Share prices ended up Thursday as investors were encouraged by the easing of community restrictions in the National Capital Region (NCR).
The Philippine Stock Exchange index (PSEi) was up 114.19 points to 7,183.11, a 1.62 percent hike.
The broader all shares index was up 40.69 points to 4,43.95, a 0.92 percent hike.
Gainers edged losers 111 to 86 with 45 stocks unchanged. Trading turnover reached P10.28 billion.
The peso closed at 50.605 to the dollar, up from 50.655 on Wednesday.
The currency opened at 50.59 and hit a high of 50.525 and a low of 50.67. Trading turnover reached $936.65 million.
Most Asian currencies firmed modestly against the US dollar on Thursday, with the South Korean won and the Thai baht taking the lead, and Singapore’s dollar appreciating slightly after the central bank unexpectedly tightened monetary policy, Reuters reported.
Stockbroker SB Equities Inc. said the market climbed to a fresh eight-month high “after the government loosened quarantine restrictions in the capital region to Alert Level 3 for the second half of October and new COVID-19 infections registered at a two-month low.”
“Joining a regional upturn as inflation concerns eased, the benchmark index continued to cement previous resistance at the 7,000 mark as its new support,” it said.
Most actively traded Globe Telecom Inc. was up P152 to P3,350. Monde Nissin Corp. was down P0.46 to P16.54. Converge Information and Communication Technology Solutions Inc. was up P0.05 to P32.15. Jollibee Foods Corp. was up P13.80 to P229.80. AC Energy Corp. was down P0.42 to P11.70. Ayala Corp. was up P25 to P853. International Container Terminal Services Inc. was down P5.40 to P169.10. Ayala Land Inc. was up P0.90 to P36.80. Metropolitan Bank and Trust Co. was up P0.50 to P50.20. SM Prime Holdings Inc. was up P0.70 to P36.50.