Philippine share prices closed 0.29 percent higher on Tuesday after better-than-expected November export figures and a steadier performance overnight on Wall Street, dealers said. They said investors remained very selective, focusing mainly on a few second-line stocks with improved earnings prospects. The Philippine Stock Exchange composite index gained 5.36 points to 1,845.83 after moving between 1,840.19 and 1,854.42.
Volume totalled 3.05 billion shares worth 964.1 million pesos (17.12 million dollars) from 1.32 billion shares worth 9.47 billion pesos on Monday.
The broader all-shares index rose 16.72 points to 1,173.34.
Gainers led losers 50 to 21, with 49 stocks unchanged.
"I think the positive exports data provided some relief today. Wall Street's firmer close last night also helped spur this selective buying activity," said Ron Rodrigo of Accord Capital Equities Inc.
The government said on Tuesday that Philippine exports in November rose 19.5 percent from a year earlier to 3.69 billion dollars, the fastest growth rate since July 2002 and up from 12.3 percent growth in October.
Top-traded Philippine Long Distance Telephone Co (PLDT) was up five pesos to 1,360 pesos.
PLDT unit Pilipino Telephone Corp was up 10 centavos at 3.25 pesos. Digital Telecommunications Philippines Inc (Digitel) rose 10 centavos to 1.88 pesos on expectations the company's aggressive promotion of its mobile phone service has helped boost its subscriber base.
Oil refiner Petron Corp was up 25 centavos at 3.45 pesos, having lagged behind recent market rallies.
Shopping mall operator SM Prime Holdings shed 10 centavos to 7.70 pesos, while Ayala Land Inc fell 10 centavos to 7.40 pesos.
San Miguel Corp A and B shares ended unchanged at 58.50 and 79 pesos respectively.
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