PSEi rises on Trump hints of easing China tolls

Investors found some relief as US President Trump signaled an easing on China tariffs. This allowed the Philippine Stock Exchange index (PSEi) to end in the green on Friday.

The benchmark PSEi rose by 1.79 percent, or 110.27 points, to settle at 6,268.75.

Meanwhile, the All-Shares index climbed by 1.02 percent, or 37.44 points, to sit at 3,695.69 by the closing bell.

“Philippine shares ended the trading session on a strong note as the global trade outlook and its impact on investor sentiment continued to improve with trade tensions,” said Luis Limlingan, head of sales at Regina Capital Development Corp.

All the sub-sectors were in the green except for the mining and oil index, which dipped by 0.72 percent.

The property and services indices were the biggest gainers, booking upticks of 1.83 percent and 1.5 percent, respectively.

Over 1.4 billion shares valued at P6.74 billion were traded. Winners led losers, 117-79, while 45 issues were unchanged.

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The most actively traded shares were that of BDO Unibank Inc., rising by 0.63 percent to P161 each.

This was followed by Universal Robina Corp., up 7.76 percent to P81.25; Ayala Land Inc., up 2.43 percent to P25.30; Bloomberry Resorts Corp., up 18.89 percent to P3.21; SM Investments Corp., up 3.64 percent to P855; and International Container Terminal Services Inc., up 2.94 percent to P350.

Other active names were SM Prime Holdings, up 2.7 percent to P22.80; Metropolitan Bank & Trust Co., up 0.27 percent to P73; DigiPlus Interactive, down 5.14 percent to P36.90; and Bank of the Philippine Islands, up 0.83 percent to P134.30.