PSEi warms up near 6,300 in preparation for Nov inflation print

MANILA  -The benchmark Philippine Stock Exchange index (PSEi) advanced on Monday as investors anticipated a slew of economic data releases, including the latest domestic inflation report.

The PSEi added 0.63 percent, or 39.19 points, to 6,284.37 while the broader All Shares index rose 0.46 percent, or 15.22 points, to 3,347.44.

“Philippine shares made another challenge towards the 6,300 level [for the PSEi], as investors get ready for another round of economic data to cap off the year,” Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said on Monday.

Inflation reading

“[T]he main highlight for this week is the latest Philippine inflation reading which is scheduled for release on Dec 5,” he said.

Upcoming reports also include unemployment and foreign investments, he noted.

All PSE subsectors rose on muted trading activity, as 446.6 million shares valued at P3.76 billion changed hands. Foreigners also finished with net purchases of P287.5 million, data from the stock exchange showed.

SM Investments Corp was the top traded stock as it closed flat at P825 per share.

It was followed by BDO Unibank Inc., up 0.38 percent to P131.50; Jollibee Foods Corp., up 4.36 percent to P244; International Container Terminal Services Inc., up 0.09 percent to P220; and Bank of the Philippine Islands, up 1.15 percent to P105.70 per share.

Ayala Land Inc. closed flat at P31; SP New Energy Corp., up 3.42 percent to P1.21; Universal Robina Corp., up 0.80 percent to P114; Robinsons Land Corp., up 3.02 percent to P15; and SM Prime Holdings Inc., up 0.15 percent to P33.05 per share.

Overall, there were 91 losers against 83 advancers while 46 companies closed unchanged, data from the stock exchange also showed. INQ