The Philippine Stock Exchange Index rose 0.6 percent to 4,368.88, the highest close since Sept. 5. The measure has risen 4 percent this year, the second-best performer among Asian benchmark indexes.
Developers: Filinvest Land Inc. (FLI) advanced 1.9 percent to 1.06 pesos, the sharpest gain since Nov. 8 after central bank Governor Amando Tetangco said the regulator doesn’t see any signs of an asset price bubble in property amid “big demand” for homes. Megaworld Corp. (MEG) , which has an 18 percent market share for residential condominiums, climbed 3 percent to 1.74 pesos, the sharpest increased since Nov. 15.
Puregold Price Club Inc. (PGOLD PM), the nation’s second- largest operator of hypermarkets and supermarkets, increased 1 percent to 18.20 pesos. The stock surged as much as 3.2 percent earlier today to a record high. The company plans to spend 10 billion pesos ($228 million) to double its stores to 200 branches by 2016, Chairman Lucio Co said in an interview.
Tanduay Holdings Inc. (TDY) , the nation’s biggest rum- maker, advanced 2.4 percent to 4.28 pesos, the sharpest gain since Nov. 29. The company said it will pay 20 centavos a share in dividends, its highest payout since 2005, according to data compiled by Bloomberg.
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