Stock index gain strongly; peso at P53.435:$1

July 26, 2018

Philippine stocks surged on Thursday as the main index climbed more than two percent.

The peso closed at P53.435 against the US dollar from P53.37 on Wednesday. Volume amounted to $625.4 million from the previous day's $557.1 million.

The Philippine Stock Exchange index finished at 7,665.85, up 151.85. In the broader market, there were 125 gainers, 79 decliners and 42 shares unchanged.

Volume reached 697.29 million worth P6.66 billion from Wednesday's 1.4 billion shares valued at P6.9 billion.

Foreigners were net buyers for the second day as they bought P3.91 billion worth of stocks while selling P3.26 billion.

Most traded shares were led by SM Investment Corp., up 3.86 percent to P969; SM Prime, up3.31 percent to P37.50 and JG Summit, up 3.68 percent to P54.95. DMS