Philippines share prices closed 1.07 percent higher Thursday in a technical rebound following two days of profit-taking, dealers said. They said stocks also rose in tandem with the Philippine peso, which extended a rally against the US dollar, after the government sold 1.5 billion dollars worth of 25-year global bonds this week, exceeding its target of one billion dollars.
The Philippine Stock Exchange composite index gained 21.11 points to 1,991.39 after moving between 1,969.51 and 1,992.58.
Volume totalled 5.72 billion shares worth 1.19 billion pesos (21.4 million dollars) from 5.62 billion shares worth 1.69 billion pesos on Wednesday. The broader all-shares index rose 3.99 points to 1,168.00. Gainers led losers 78 to 29, with 43 stocks unchanged.
Top-traded index heavyweight Philippine Long Distance Telephone Co (PLDT) was up 10 pesos at 1,440 pesos.
Ayala Land Inc was up 10 centavos at 8.50 pesos, while parent Ayala Corp rose 20 centavos to 7.80 pesos. Food and beverage giant San Miguel Corp A and B shares were steady at 58 pesos and 77.50 pesos, respectively.
Comments
Comments are closed.