PH Stocks Up on Expectations Fed Stimulus will Continue

Manila—(PHStocks)—Philippine stocks closed higher on Wednesday, 23 October, as investors took the cue from the weak jobs report in the United States in September.

The Philippine Stock Exchange index (PSEi) went up by 0.48% or 31.51 points to close the day’s trading at 6,635.11, on belief that the Fed’s stimulus will continue given this recent economic data in the United States market.

The gainers were led by the Holding Firms segment, which went up by 1.26%. The Services and Mining and Oil sectors, however, slid by 0.48% and 0.19%, respectively. The wider All Shares index, on the other hand, increased by 0.41%.

PSE-23-10-13Trading was moderate, with value turnover reaching PhP6.59 billion on 1.11 billion shares traded. There were 77 gainers against 66 losers, while 43 stocks were flat. According to PSE, foreign buying reached PhP4.36 billion while foreign selling was PhP4.19 billion.

Most active stocks in terms of value include Philippine Long Distance Telephone Co. (TEL, PhP2,856.00, -0.42%), Universal Robina Corp. (URC, PhP128.00, -1.16%), GT Capital Holdings Inc. (GTCAP, PhP869.50, -1.31%), Ayala Corp. (AC, PhP616.50, 0.74%), SM Prime Holdings Inc. (SMPH, PhP17.36, 3.09%), SM Investments Corp. (SM, PhP863.00, 2.13%), Jollibee Foods Corp. (JFC, PhP181.20, 2.08%), Alliance Global Group Inc. (AGI, PhP26.95, 0.37%), International Container Terminal Services Inc. (ICT, PhP104.00, -0.95%), and Metropolitan Bank & Trust Co. (MBT, PhP90.00, 0.61%).

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