Stocks bounce back on Wednesday

February 7, 2018

Stocks regained some of its losses in the last two days as the main index rose 1.37 percent on Wednesday.

The Philippine Stock Exchange index gained 117.14 points to finish at 8,667.56. In the broader market, there were 127 gainers, 82 decliners and 47 unchanged.

Volume reached 1.28 billion worth P9.08 billion from Tuesday's 1.89 billion valued at P10.42 billion. Foreigners were net sellers for the ninth session, unloading P4.77 billion while buying P4.17 billion.

Among most traded issues were SM Investment Corp., down 1 percent to P990; Ayala Land, up 2.73 percent to P45.20, Bloomberry Resorts, up 5.79 percent to P12.80 and telecom firm Now Corp., up 4.12 percent to P6.83.

The peso closed at P51.12 against the US dollar from Tuesday's P51.46. Volume at the Philippine Dealing System reached $1.03 billion from $920.30 million. DMS