Philippines stocks, led by leading phone firm PLDT and second-ranked Globe Telecom Inc, closed higher for the third straight session on Tuesday on further bargain-hunting in select blue chips.
Analysts said political concerns were easing somewhat as campaigning for the May 10 general election began on Tuesday with presidential candidates at their charming best to win votes.
Philippine Long Distance Telephone Co (PLDT) was the most active stock as it rose 1.06 percent or 10 pesos to 950 pesos. PLDT's turnover of 139 million pesos ($2.5 million) accounted for about a quarter of the market's total.
Globe a unit of local conglomerate Ayala Corp and Singapore Telecommunications Ltd, gained 1.13 percent or 10 pesos to 895 pesos.
The main index ended 11.6 points or 0.8 percent higher at 1,490.21 points. It is up 3.32 percent so far this year.
Turnover dipped to just under 543 million pesos from Monday's 856 million pesos. Gainers beat losers 28 to 13 and there were 35 stocks unchanged.
Analysts said they expected the index to move within a tight range of 1,430 to 1,500 points as players wait for more political developments.
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