Bargain hunters extend PSEi win streak

Investors hunting for bargains lifted the Philippine Stock Exchange index (PSEi) on Tuesday, allowing the local bourse to register a three-day winning streak.

The benchmark PSEi rose by 0.62 percent or 41.84 points to close at 6,803.19 while the broader All-Shares index climbed by 0.33 percent or 12.48 points to settle at 3,812.18.

“Investors continued to hunt for bargains as concerns over the prospects of protectionist trade policies in the US subside,” Philstocks Financial Inc. senior analyst Japhet Tantiangco said.

All sub-sectors were in the green except for the holding firms index which fell by 0.84 percent. The biggest gainers were services and property with growth rates of 1.3 percent and 1.22 percent, respectively.

Over 783.36 million shares valued at P5.45 billion were traded. Losers led gainers, 111-85, while 63 issues were unchanged.

The most actively traded shares were that of Ayala Land Inc., climbing by 0.86 percent to P29.25 each.

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This was followed by BDO Unibank Inc., up 3.63 percent to P145.50; International Container Terminal Services Inc., up 2.82 to P393.80; Bank of the Philippine Islands, down 1.5 percent to P138.10; SM Prime Holdings, up 2.14 percent to P28.60; and Universal Robina Corp., up 2.92 percent to P88.20.

Other active names were SM Investments Corp., down 0.99 percent to P896; Metropolitan Bank & Trust Co., down 0.87 percent to P73.80; DITO CME Holdings, down 11.73 percent to P1.58; and Ayala Corp., down 0.91 percent to P651.