Philippine Stocks Higher At Close of Trade; PSEi up 1.63 Percent

PHILIPPINES – Philippine stocks were higher after the close on Monday, with the Philippine Stock Exchange Index (PSEi) gaining 1.63 percent and all of the indeces ending the day in the green.

At the close, the PSEi posted gains of 111.93 points to 6,961.93, while all shares posted 1.37 gain.

The best performers of the session at the Philippine Stock Exchange (PSE) were BHI Holdings Inc (PSE:BH), which rose 48.78 percent to trade at Php669.50 at the close.

TKC Steel Corporation (PSE:T) also gained 27.27 percent to trade at Php1.68 at the end of the trading session, followed by ATN Holdings, Inc. (PSE:ATN), which increased 11.34 percent to end the trading day with a price of Php0.265.

The worst performers of the session were Chemical Industries of the Philippines (PSE:CIP), which declined by 29.62 percent to traded at Php91.50 at the close.

Grand Plaza Hotel Corporation (PSE:GPH) also dropped by double digits to end the day at Php16.90, or 14.65 percent lower from last week’s close.

Among the blue chip stocks traded at the Philippine Stock Exchange, Bloomberry Resorts Corporation (PSE:BLOOM) posted the highest gain with 9.03 percent to end the trading day at Php5.31. Meanwhile, Metropolitan Bank and Trust Company (PSE:MBT) also ended the day 4.94 percent higher at Php85 a share. SM Prime Holdings (PSE:SMPH) also posted a gain of 4.88 percent to end the trading day at Php21.50.

Twenty-two blue chips advanced in today’s trading session while seven declined. Aboitiz Power Corporation (PSE:AP) was unchanged.

Financials stocks gained 1.37 percent, Industrial was up by 0.88 percent, while Holding Firms added 0.89 percent. Services, Mining and Oil, and Property were also up by 2.50 percent, 0.72 percent, and 2.33 percent, respectively. – BusinessNewsAsia.com