Rebound Continues; PH Stocks Climb to 6300

Manila—(PHStocks)—Philippine stocks continued their rally Thursday, 27 June, amid positive market sentiment and moves by China to stabilize its financial market. The benchmark Philippine Stock Exchange (PSE) index went up by 3.42% or 209.06 points to close today’s trading at 6,328. In fact, PSEi again led the Asia Pacific stock market indices in terms of growth (See screenshot from Bloomberg News).

The United States trimmed its 1Q GDP growth estimates yesterday to 1.8% from the initial 2.4%. But this just fuelled the growth in stocks and bonds as investors felt reassured that the QE program will continue. This has likewise propelled Asian markets today, with most emerging markets posting positive gains.

ScreenShot031Screenshot from Bloomberg News.

All counters remain in the green, led by the Holding Firms sector, which gained 4.15%. The Services sector went up by 3.66%, while the Financials increased by 3.3%. The wider All Shares index posted a 3.14% gain.

Value turnover reached PhP12.116 billion on almost 3.57 billion shares traded. According to PSE data, foreign buying reached PhP7.01 billion while foreign selling was PhP5.42 billion.

There were 139 gainers today compared to 37 losers, while 32 stocks were flat.

ScreenShot032

Top most active stocks for the day are Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), Metropolitan Bank & Trust Company (Metrobank, PSE: MBT), Megaworld Corporation (PSE: MEG), SM Investments Corporation (SMIC, PSE: SM), SM Prime Holdings Inc. (PSE: SMPH), Ayala Land Inc. (PSE: ALI), Alliance Global Group Inc. (PSE: AGI), Universal Robina Corporation (PSE: URC), Ayala Corp. (PSE: AC), Metro Pacific Investments Corporation (MPIC, PSE: MPI).

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