PH Stocks Up on Upbeat Market Sentiment

PHStocks 29/05/201318/08/2013 0 Comments AGI, Alliance Global, BC, Benguet, Calapan Ventures, FAF, First Abacus, H2O, Highlands Prime, HP, IS, Island Information, JFC, JOH, Jollibee, Jolliville, Keppel Philippine, KPHB, LC, LCB, Lepanto Consolidated, MA, MAB, Manila Mining, Metro Pacific Investments, MG, Millenium Global, MPI, MPIC, Pancake House, PCKH, PHES, Philex Petroleum, Philippine Estates, Philippine Long Distance Telephone Co., PLDT, PXP, SFI, Shang Properties, SHNG, SM, SM Investments, SM Prime, SMIC, SMPH, Swift Foods, TEL, TKC Steel, Zeus Holdings, ZHI

Manila—(PHStocks)—Positive market performance in the US have lifted Philippine stocks Wednesday, 29 May, as local stocks stage a strong rebound. The Philippine Stock Exchange (PSE) index went up by 1.62% or 115.35 points 7,228.57, as investors continue to scoop up bargains after a three-day decline.

All shares are back in the green, again led by the Mining and Oil sector, which gained 4.86%. The Industrials segment went up by 2.1%, while the Financials increased by 1.54%. The wider All Shares index went up by 1.24%.

Trading was again slightly heavy, with value turnover reaching PhP9.638 billion on 1.956 billion shares traded. There were 114 gainers against 49 losers, while 40 stocks were flat.

The top most active stocks were Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), Alliance Global Group Inc. (PSE: AGI), SM Investments Corporation (SMIC, PSE: SM), SM Prime Holdings Inc. (PSE: SMPH), and Metro Pacific Investments Corporation (MPIC, PSE: MPI).