Investors score blue chips, lifting PSEi

MANILA  -The Philippine Stock Exchange index (PSEi) tilted higher on Friday as investors picked up blue chips after fund mangers rebalanced their portfolios in the wake of the latest MCSI review.

The benchmark index rose 0.34 percent, or 21.45 points, to 6,245.18 while the broader All Shares index was up 0.13 percent, or 4.39 points, to 3,332.22.

A total of 1.68 billion shares valued at P4.41 billion changed hands, with the volume surge attributed to Leandro Leviste-led SP New Energy Corp. The firm commenced trading on Friday after a six-month suspension after it complied with the minimum public ownership rules of the exchange.

Buying activity was also lifted by foreigners, who made net purchases of nearly P1.4 billion, data from the stock exchange showed.

Most PSE subsectors closed higher, led by property (+0.84 percent), industrial (+0.67 percent), services (+0.31 percent) and holding firms (+0.13 percent). Financials and mining and oil dropped 0.41 percent and 0.35 percent, respectively.

SP New Energy was also the most actively traded stock as it fell 19.86 percent to P1.17 per share.

It was followed by Ayala Land Inc., down 0.64 percent to P31; BDO Unibank Inc., down 1.87 percent to P131; Jollibee Foods Corp., up 3.18 percent to P233.80; and SM Prime Holdings Inc., up 2.17 percent to P33 per share.

Bloomberry Resorts Corp. was down 1.55 percent to P9.50; International Container Terminal Services Inc., up 1.85 percent to P219.80; Universal Robina Corp., up 0.09 percent to P113.10; GT Capital Holdings Inc., down 1.38 percent to P535; and Bank of the Philippine Islands, up 1.16 percent to P104.50 per share.