The PSEi recovered the previous day’s losses as investors anticipate a good result from the Monetary Board’s upcoming policy meeting.
The main index rose by 37.08 points or 0.56 percent to close at 6,650.44 as the interest rate-sensitive Property sector led the advance while Banks and Miners retreated. Volume improved to P607 million shares worth P4.98 billion although losers outnumbered gainers 100 to 81 with 64 unchanged.
“Philippine shares rebounded, tracking the Asian peers, as investors continue to take positions ahead of the upcoming BSP meeting this Thursday,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Philstocks Financial Research Manager Japhet Tantiangco said, "the Peso’s strengthening against the US Dollar has helped in lifting the market. Investors’ appreciation of second quarter and first half corporate results also helped in bringing the market up."