PSEi firms up on rosier local jobs data

MANILA, Philippines  -The benchmark Philippine Stock Exchange Index (PSEi) tilted higher along with regional equities on Tuesday as investors weighed local positive jobs data while waiting for the latest US inflation report.

By the closing bell, the PSEi added 0.14 percent, or 9.30 points, to 6,618.52 while the broader All Shares Index was up 0.12 percent, or 4.17 points, to 3,503.68.

Gains were also supported by robust foreign buying as investors overseas made net purchases of P916 million. A total of 405.4 million shares valued at P5.75 billion changed hands.

READ: Asian markets gain as global investors await US inflation data

Leading the regional rebound was Japan’s Nikkei, which hit a 33-year high after inflation slowed last December.

Meanwhile, a survey by the Philippine Statistics Authority showed the local unemployment rate going down to 3.6 percent in November from 4.2 percent in October.

READ: Jobless rate down to 3.6% in November —PSA

PSE subsectors were mixed as financials and property counters gained while mining and oil, industrial, holding firms and services pulled back.

BDO Unibank, the most actively traded company, rose 0.98 percent to P133.60 per share. It was followed by Ayala Land Inc., up 1.47 percent to P34.50; Bank of the Philippine Islands, up 0.96 percent to P105; Metropolitan Bank & Trust Co., up 2.21 percent to P55.40; and SM Prime Holdings Inc., flat at P33.50 per share.

International Container Terminal Services Inc. was down 1.04 percent to P246.40; Robinsons Land Corp., up 2.4 percent to P16.24; SM Investments Corp., up 1.12 percent to P900; JG Summit Holdings Inc., down 3.25 percent to P41.70; and Jollibee Foods Corp., down 1.56 percent to P253 per share. INQ