PH Stocks Up on Positive Vibes on US Debt Resolution

Manila—(PHStocks)—Philippine stocks recovered on Wednesday, 16 October, as most investors expect resolutions on the US impasse on shutdown as well as the debt ceiling.

The mainboard Philippine Stock Exchange index (PSEi) went up by 0.63% or 40.87 points to close the day’s trading at 6,483.57 – failing to break the 6,500 mark despite gaining as much as 60.56 points intraday.

All counters except for the Industrials (-0.03%) and Services (-0.02%) are in the green, led by the Financials sector, which gained 1.41%. The Mining and Oil index, meanwhile, continued its uptrend, further gaining 0.77% from the previous trading day’s 0.13%.

Trading was moderate, with value turnover reaching PhP7.48 billion on 1.61 billion shares traded. There were 87 gainers against 55 losers, while 52 stocks were flat.

PSE-16-10-13Today’s most active in terms of value include Philippine Long Distance Telephone Co. (TEL, PhP2,860.00, -0.35%), Metropolitan Bank & Trust Co. (MBT, PhP89.45, 2.88%), Universal Robina Corp. (URC, PhP121.00, 0.08%), International Container Terminal Services Inc. (ICT, PhP101.00, 0.6%), Puregold Price Club Inc. (PGOLD, PhP46.00, 1.1%), SM Investments Corp. (SM, PhP840.00, -0.36%), Metro Pacific Investments Corp. (MPI, PhP4.76, 3.7%), Alliance Global Group Inc. (AGI, PhP25.25, 0.2%), Ayala Land Inc. (ALI, PhP30.00, 0.33%), and Emperador Inc. (EMP, PhP11.48, 1.95%).

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