Inflation settling within the government’s forecast range gave a boost to the local bourse, allowing the Philippine Stock Exchange Index (PSEi) to retest the 6manaloplay,200 mark.

The benchmark PSEi rose by 3.15 percent, or 192.02 points, to close at 6,281.08, while the broader All Shares Index climbed by 2.18 percent, or 78.73 points, to settle at 3,696.66 by the closing bell.

“Investors also cheered the Philippines’ January inflation figure which came in at 2.9 percent,” Philstocks Financial Inc. senior analyst Japhet Tantiangco said.

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The latest figure is within the 2.5-to-3.5-percent projection by the Bangko Sentral ng Pilipinas (BSP).

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“The tamed inflation number sets expectations that the BSP will continue with their monetary policy easing,” he added.

READ: PSEi plunges into bear territory

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All the subsectors were in the green. Property and holding firm indices were top gainers, improving by 4.81 percent and 4.09 percent, respectively.

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About 673.73 million shares valued at P7.5 billion were traded. Winners beat losers, 127 to 68, while 50 issues were unchanged.

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The most actively traded shares were those of SM Prime Holdings, rising by 7.22 percent to P26 each.

This was followed by International Container Terminal Services Inc., up 3 percent to P378; BDO Unibank Inc., up 1.73 percent to P147; Ayala Land Inc., up 5.28 percent to P25.90; China Banking Corp., down 2.17 percent to P90; and DigiPlus Interactive Corp., up 4.68 percent to P31.30.

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Other active names were SM Investments Corp., up 5.6 percent to P830; Jollibee Foods Corp., up 4.09 percent to P244.60; Metropolitan Bank & Trust Co., up 2.23 percent to P73.40; and Bank of the Philippine Islands, up 2.82 percent to P127.80. —Tyrone Jasper C. Piad 

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In 2011, a report by the risk consultancy company Pacific Strategies and Assessments (PSA) pointed out that recent years had seen a spike in Chinese mining activities in the Philippines.

The driver was reported to be a resident of Sta. Mesa, Manila.

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