Why These Three Philippine Stocks Are Trending Wednesday

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Philippines stocks ended Wednesday on the positive, buoyed by double-digit gains in Holding Firms, Services, and Mining & Oil. The Philippine Stock Exchange index (PSEi) gained 8.34 points while All Shares added 1.32 points.

Five stocks that stood out as top gainers on Wednesday’s trading are Arthaland Corporation (PSE:ALCO), City & Land Developers Inc (PSE:LAND), and Wellex Industries Inc (PSE:WIN), which gained 12.77%, 6.20%, and 6.06%, respectively.

BusinessNewsAsia.com takes a closer look at the developments that sent these stocks up in the green territory to see if their gains will continue on in today’s trading.

Arthaland Corporation (PSE:ALCO)‘s stock was top gainer Wednesday even as the company, which is engaged in property development of residential, commercial, leisure, and industrial projects, did not make any disclosure to the Philippine Stock Exchange.

The stock closed at 1.06 a share after opening at 0.94 a piece. A total of 23.573 million shares exchanged hands on Wednesday trading. Arthaland has a 52-week high value of 1.75 a share.

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City & Land Developers (PSE:LAND)‘s stock gained 6.20% on Wednesday, or a day after the company announced that it has appointed a data protection officer and that it will be registered with the National Privacy Commission on or before 8 September 2017.

The company announced on Tuesday that Rudy Go, Senior Vice President / Compliance Officer has been appointed Data Protection Officer as approved and authorized by its Board of Directors. Go has 266,695 direct shareholdings in the company.

City & Land Developers’ stock ended Wednesday’s trading at 1.37 a share, up 6.20% from the previous trading day’s close. A total of 2.706 million shares valued at P3.656 million exchanged hands. The company has market capitalization of P1.675 billion.

Wellex Industries Inc (PSE:WIN)‘s stock rallied on Wednesday despite the absence of marketing moving disclosure and news releases. The stock last traded at 0.210 a share, a 6.06% rise from the previous day’s close. A total of 500,000 shares valued at P105,020 exchanged hands on the trading floor, with the stock hitting a high of 0.212 a share. – BusinessNewsAsia.com

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