Philippine shares extended their run for the second day this week, with the Philippine Stock Exchange index (PSEi) remaining on the green side on Thursday, rising by 0.10 percent, or 6.18 points to 5,914.59.
The all-shares index went up 0.36 percent, or 13.06 points to 3,610.68.
“US and European stocks ended Wednesday flat providing little guidance to Asian trades. However, carrying on the momentum of the previous day’s rebound, indexes in Asia advanced for a second day in a row,” Jun Calaycay, Accord Capital Equities Corp. analyst, said.
Except for services and mining and oil, majority of the sectoral indices managed to post minor gains. Financials gained 4.68 points, or 0.32 percent to 1,477.29, while industrial went up 22.57 points, or 0.26 percent to end at 8,742.51. Property also made a little improvement, increasing by 0.18 percent, or 4.11 points to 2,248.65, followed by the holding firms, which advanced by only 0.07 percent, or 3.90 points to 5,318.68.
Mining and oil, however, fell by 0.38 percent, or 51.24 points to 13,393.90, and services went down by 0.22 percent, or 4.04 points to 1,825.87. Total value turnover remained almost on the same level at P5.1 billion, while gainers edged losers, 77 to 62.
Some of the most actively traded stocks on Thursday were Alliance Global Group Inc., Universal Robina Corp., SM Prime Holdings Inc., Philippine Long Distance Telephone Co., Robinsons Retail Holdings Inc., LT Group Inc., Ayala Land Inc., Megaworld Corp., Aboitiz Power Corp. and Metropolitan Bank and Trust Co.
Although it didn’t manage to go back to 6,000-point level, the PSEi was still able to break away from its three-day losing trend on Wednesday, and went up for the first time this week.
The PSEi on Wednesday rose by 0.38 percent, or 22.40 points to 5,908.41, while the wider all-shares index went up by 0.22 percent, or 7.80 points to 3,597.62.