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DJ Philippine Shares Lifted by Bargain-Hunting; PSEi Ends +0.3%
December 23, 2013

0802 GMT [Dow Jones] Philippine shares are higher Monday, lifted by bargain hunting on select blue chips. "Many are still hopeful there will be the usual year-end (portfolio) window dressing. Some investors are also positioning for next year," says Astro del Castillo, managing director at First Grade Holdings. The benchmark PSEi is up 0.3% to 5854.88, still above the end-2012 level of 5812.73. Decliners still beat gainers, 86 to 69. Advancers are led by Metroplitan Bank & Trust (MBT.PH), up 1.2% to PHP75.10, and BDO Unibank (BDO.PH), up 2.2% to PHP69.90, while retreaters are paced by Ayala Land (ALI.PH), down 0.6% to PHP24.30, and SM Investments (SM.PH), down 0.4% to PHP716.50. Volume is thin. Manila markets will be closed Tuesday and Wednesday for the Christmas break. Traders expect the PSEi to remain with the 5700-6000 level in the near-term. (cris.larano@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com