Phl stocks rise to new high
MANILA, Philippines - The stock market posted another record high on Wednesday despite the weakening peso.
The composite index rose by 0.40 percent or 23.58 points to fresh record of 5,855.08 points from the previous record of 5,831.50 level Tuesday.
The broader all shares index also increased by 0.52 percent or 19.51 points to 3,748.21 points from 3,718.7 points.
Most of the sectoral indices tracked the main index led by the mining and oil sectors with over three percent increase at 19,260.09 points, up 3.97 percent or 735.83 points from day-ago’s 18,524.26 points.
Other indices that registered increases in the morning trade are the property, financials and holding firms.
On the other hand, the services and industrial indices were on the red.
Value turn-over reached P3.81 billion after 2.98 billion shares changed hands.
Gainers led loser at 103 to 54 while 36 stocks were unchanged .
Meanwhile, the peso opened at 40.90, sideways from day-ago’s 40.93 start and 40.95 finish against the dollar.
It’s opening level is the local unit’s strongest trade for the day after it dipped to 41.02 mid-trade.
This brought the unit’s average in the morning session to 40.96.
Volume of trade amounted to US$ 559.6 million.
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