SHARE prices ended up Wednesday on late-buying as investors cherry-picked on stocks.
The Philippine Stock Exchange index (PSEi) was up 26.11 points to 5,581.96, a 0.47 percent hike.
The broader all shares index was up 11.65 points to 3,371.47, a 0.35 percent hike.
Losers narrowly edged gainers 88 to 84 with 40 stocks unchanged. Trading turnover reached P3.3 billion.
The peso closed at 50.65 to the dollar, up from 50.70 on Tuesday. Trading turnover reached $919.2 million.
“Philippines equities ended higher on last minute bargain-hunting as more talk of stimulus became a catalyst for the market,” said Luis Limlingan, managing director at Regina Capital Development Corp.
Limlingan was referring to US Treasurer Steven Mnuchin’s statement before the US Senate about his office’s plan “to use all $500 billion the Treasury was allocated to help the US economy, and is willing to take on more risk to do so.”
Most actively traded Ayala Land Inc. was up P0.10 to P32. Bank of the Philippine Islands was up P1.95 to P62.95. Globe Telecom Inc. was up P64 to P2,276. Universal Robina Corp. was down P2.80 to P121.40. Ayala Corp. was up P15 to P665. SM Prime Holdings Inc. was up P0.15 to P29.65. GT Capital Holdings Corp. was down P8 to P374. BDO Unibank Inc. was steady at P820. SM Investments Corp. was up P10 to P820. Megawide Construction Corp. was down P0.10 to P5.10.
