PH Stocks Rebound on Strong Economic Data

Manila—(PHStocks)—Philippine stocks recover Thursday, 28 November, as investor confidence get a boost from the third quarter economic data released by the National Statistical Coordination Board (NSCB).

The mainboard Philippine Stock Exchange index (PSEi) jumped by nearly 2% or 116 points to close the day’s trading at 6,169.96 as the Philippines post a GDP growth of 7% for the third quarter. For the first nine months of the year, the GDP was up by 7.4%, compared to last year’s 6.7%.

All counters were back in the green, led by the Mining and Oil sector (+3.13%) followed by the Property index (+2.6%).

Trading was moderate, with value turnover reaching PhP6.78 billion on 987 million shares traded. There were 98 gainers against 53 decliners, while 44 stocks were flat.

The top most active stocks in terms of value were Philippine Long Distance Telephone Co. (TEL, PhP2,650.00, 1.77%), SM Prime Holdings Inc. (SMPH, PhP16.02, 1.26%), SM Investments Corp. (SM, PhP748.00, 2.47%), JG Summit Holdings Inc. (JGS, PhP40.00, 1.14%), Metropolitan Bank & Trust Co. (MBT, PhP76.75, 2.33%), Universal Robina Corp. (URC, PhP121.60, 1.76%), Metro Pacific Investments Corp. (MPI, PhP4.73, NC), GT Capital Holdings Inc. (GTCAP, PhP763.50, 0.46%), Megaworld Corp. (MEG, PhP3.50, 5.42%), and Manila Water Company Inc. (MWC, PhP23.50, 0.21%).

Top gainers:

Top decliners:

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