PH Stocks Maintain Rally, Reach 6800

PHStocks 24/07/201318/08/2013 0 Comments AAA, AGI, ALI, Alliance Global, ARA, Araneta Properties, Asia Amalgamated, ATN, ATN Holdings, Ayala Land, BDO, BDO Unibank, Calapan Ventures, COSCO, Cosco Capital, EG, EURO, Euro-med, Forum Pacific, FPI, GERI, Global-Estate, H2O, I-Remit, IP E-Game, IS, Island Information, KEP, Keppel, Manila Electric, MER, MERALCO, Metro Pacific Investments, MG, Millenium Global, MPI, MPIC, PERC, PetroEnergy, PHA, Philippine Long Distance Telephone, Philippine Seven, Phinma, PHN, PLDT, Premiere Horizon, RCI, Roxas and Company, SEVN, SFI, Shang Properties, SHNG, SM, SM Investments, SMIC, Swift Foods, TEL, Universal Robina, URC

Manila—(PHStocks)—Philippine stocks jumped further on Wednesday, July 24, as investors remain optimistic of the country’s macroeconomic growth this year. With the confusion settling down regarding whether or not the US Federal Reserve will start scaling back its stimulus program, “hot money” is starting to flood the market again. The Philippine Stock Exchange (PSE) index went up by a further 0.9% to close today’s trading at 6,804.16 – climbing to the 6800 level once again.

Some counters, however, have suffered slight profit-taking after yesterday’s rally. The Mining and Oil index slid by 0.56% while the Services sector declined by 0.2%. The Property sector, on the other hand, led the gainers, posting a 1.51% increase, while the Holding Firms sector increased further by 1.39%.

Trading continued to be moderate. Value turnover reached PhP8 billion on 1.2 billion shares traded. According to PSE, foreign buying reached PhP3.62 billion while foreign selling was PhP3.69 billion.