Philippine share prices closed 0.59 percent higher Friday, on last-minute buying in select blue chips, dealers said. They said some market players took profits early in the session on caution following Wall Street's overnight decline, but punters were quick to buy again once they reckoned share prices had fallen far enough.
The Philippine Stock Exchange composite index gained 10.92 points to 1,876.03 after trading between 1,862.09 and 1,877.07.
Turnover totalled 2.49 billion shares worth 1.52 billion pesos (27.14 million dollars) from 1.67 billion shares valued at 1.59 billion pesos on Thursday.
The broader all-shares index gained 2.47 points to 1,158.95.
Gainers led losers 56 to 27, with 52 stocks unchanged.
Philippine Long Distance Telephone Co was the most actively traded stock, ending up 10 pesos at 1,360 pesos.
Ayala Corp gained 20 centavos to 7.30 pesos, while its real estate flagship Ayala Land Inc was unchanged at 7.70 pesos.
Metro Pacific gained seven centavos to 47 pesos, while Bank of the Philippine Islands was up 50 centavos at 54 pesos. San Miguel Corp B shares, available to foreign investors, was steady at 78 pesos while San Miguel Corp A shares, limited to Filipino investors, was up 50 centavos at 58.50 pesos.
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