PH Stocks Recover on Bargain Hunting

Manila—(PHStocks)—Philippine stocks snapped their five-day losing streak Tuesday, 1 October, as investors hunt for bargains amid low stock prices.

The mainboard Philippine Stock Exchange index (PSEi) went up by as much as 59.4 points early in the trading day, before news of the U.S. government shutdown trimmed gains. The PSEi closed the first trading day of the month at 6,197.84, up by just 0.1%. The wider all shares index also firmed up, edging higher by a mere 0.14%.

Only the Services index and the Property sectors gained today. The Services sector added to its gains yesterday, increasing by 0.45%, while the Property segment improved by 0.35%. Losses were minimal, however, with the Mining and Oil index shedding 1%, while the rest lost less than 0.2%.

Trading was moderate, with value turnover reaching PhP7.88 billion on 1.53 million shares traded. There were 57 gainers today against 84 losers, while 41 stocks were flat.

Today’s top most active stocks in terms of value are Manila Electric Company (MER, PhP295.00, 3.15%), Alliance Global Group Inc. (AGI, PhP23.30, -0.85%), Metropolitan Bank & Trust Company (MBT, PhP84.00, 1.2%), Universal Robina Corp. (URC, PhP120.00, -2.44%), Ayala Land Inc. (ALI, PhP27.45, 0.73%), BDO Unibank Inc. (BDO, PhP73.70, -1.73%), Metro Pacific Investments Corp. (MPI, PhP4.55, 1.11%), SM Prime Holdings Inc. (SMPH, PhP16.06, 0.25%), Ayala Corp. (AC, PhP595.00, -1.57%), and DMCI Holdings Inc. (DMC, PhP45.10, -1.96%).

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