The Philippine Stock Exchange index jumped by 102.77 points, or 1.31 percent, to close at 7,919.21 as investors made their move after a slow buying attitude last month when liquidity was usually tight because of tax payment deadlines and the long holiday breaks.
SM Prime is up rising by 4.74 percent to lead the PSEi higher. The Southeast Asian property giant got a 176-percent year-on-year rise in its first-quarter net profit to P12.6 billion. Also rising to 3.3 percent was GTCAP, while JG Summit was up by 2 percent. Investors also bought shares of BDO, PLDT, ALI, SMIC, Megaworld, EDC and Jollibee, which all gained by over 1 percent.
The day’s most actively traded stock URC alongside Metrobank, AC, AGI, AEV, Bloomberry and MPI also contributed to the jump.