PSEi shares rise on bargain hunt despite tariff risks

The Philippine Stock Exchange Index (PSEi) closed just above 6,300 on Friday as bargain hunters gave a boost, brushing off tariff anxiety.

By the end of the session, the benchmark index had added 0.13 percent, or 8.17 points, to close at 6,303.72.

Likewise, the broader All Shares Index climbed by 0.35 percent, or 13.14 points, to end at 3,736.28.

A total of 1.66 billion shares worth P8.43 billion changed hands, stock exchange data showed. Foreigners were still net sellers, with outflows totaling P240.15 million.

The index managed to snap its three-day losing streak as investors took advantage of lower-priced shares, said Japhet Tantiangco, research head at Philstocks Financial Inc.

This is after traders mainly absorbed tariff uncertainties earlier this week, especially with the Philippines being slapped with a 20-percent duty from 17 percent previously.

DigiPlus Interactive Corp. benefited from bargain-hunting the most as it emerged as the top-traded stock, rallying by 15.66 percent to P22.60 each. Bloomberry Resorts Corp., another gaming stock recently battered by threats of an outright ban, also surged by 10.42 percent to P4.45 per share.

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DigiPlus was followed by SM Investments Corp., down 1.21 percent to P819.50; International Container Terminal Services Inc., down 1.57 percent to P438; BDO Unibank Inc., up 1.41 percent to P151; and Ayala Land Inc., down 0.76 percent to P25.95 each.

Others were Bank of the Philippine Islands, up 2.52 percent to P122; SM Prime Holdings Inc., down 0.22 percent to P23.15; RL Commercial REIT Inc., up 4.56 percent to P7.80; and Citicore Renewable Energy Corp., up 1.5 percent to P4.07 per share.

Losers edged out gainers, 104 to 93, while 53 companies closed flat, stock exchange data also showed.