PH Stocks Surge, Hit 4,000-pt Mark

Local shares were up Wednesday, with the bellwether Philippine Stock Exchange index (PSEi) gaining 2.98% or a whopping 116.51 points to reach 4,023.74 points – breaching the 4,000-point mark. The wider all-shares index likewise improved to 2,985.54 points, up 1.34%.

On a sectoral basis, the Services index recorded one of the biggest increases, gaining 10.76%. The Mining & Oil sector, meanwhile, increased by 1.93% or 272 points.

Trading volume for the day reached 1.997 billion, worth PhP7.35 billion, on a healthy 17,415 trades. There were 66 gainers against 59 losers, while 47 stocks remain unchanged.

The top five gainers for Wednesday include:

1. Philippine Long Distance Telephone Co. (PLDT, PSE: TEL): PhP2,356.00, +320.00, +15.72%
2. First Abacus Financial Holdings Corp. (PSE: FAF): PhP0.77, +0.09, +13.24% 
3. Globe Telecom Inc. (PSE: GLO): PhP842.00, +96.00, +12.87% 
4. Keppel Philippines Properties Inc. (PSE: KEP): PhP2.00, +0.20, +11.11% 
5. Ever-Gotesco Resources and Holdings Inc. (PSE: EVER): PhP0.115, +0.011, +10.58%