Share prices ended higher yesterday amid optimism the economy is on its way to recovery.
The Philippine Stock Exchange index (PSEi) was up 80.64 points to 5,944.87, a 1.38 percent hike.
The broader all shares index was up 33.43 points to 3,562.28, a 0.95 percent hike.
Losers edged gainers 108 to 81 with 53 stocks unchanged. Trading turnover reached P5.42 billion.
The peso closed at 48.43 to the dollar, up from 48.495 on Wednesday.
The currency opened at 48.46 and hit a high of 48.41 and a low of 48.51. Trading turnover reached $807.6 million.
Claire Alviar, analyst at Philstocks Financial Inc., said the market rose on the back of “improved IHS Markit Philippines Manufacturing PMI at 50.1 in September, from August’s 47.3.”
Alviar said the current manufac turing data “breached the expansion territory from contraction, posting the highest improvement since February this year.”
“The expansion of PMI data showed the manufacturing sector is improving, giving hopes to investors of an economic recovery. This indicates that we can see further better data in the coming months as the economy is gradually reopening,” he said.
Alviar, however, said sentiments remain affected by the lockdown measures.
“COVID-19 (new coronavirus disease 2019) cases as well have not yet been contained,” she said.
Most actively traded Dito CME Holdings Corp. was up P0.40 to P5.30. International Container Terminal Services Inc. was up P5.30 to P115. PLDT Inc. was up P1 o P1,340.
Ayala Corp. was up P4 to P693. Metropolitan Bank and Trust Co. was up P0.70 to P38.90.
BDO Unibank Inc. was up P1.55 to P87.80. Chelsea Logistics Corp. was up P0.55 to P4.96.
Cemex Holdings Philippines Corp. was down P0.11 to P1.54. SM Prime Holdings Inc. was up P0.60 to P30. Now Corp. was up P0.16 to P3.45.
