MANILA, Philippines – Local stocks rose for a sixth straight session on Monday on buying in select stocks.

The main index inched up by 0.7% to 3,357.88, while the broader all-shares index was up 0.5% at 2,137.15.

Traders said the local bourse moved in line with its peers in the region, after China relaxed its grip on its currency, the yuan.

Among the sub indices, only the mining and oil sector finished in the red, losing by half a percent. The property sector outperformed the market, advancing by 1.6%, pulled up by Ayala Land Corp. and Vista Land and Lifescapes.

Market breadth was positive, with advancers trouncing decliners 77 to 40, while 64 issues were unchanged.

A total of 1.81 billion shares worth P3.43 billion changed hands, with Anchor Land Holdings accounting for a tenth of traded shares. The property firm ended flat at P8.70 a piece.

The second most actively traded stock was telecommunications leader Philippine Long Distance Telephone Company which shed 0.4% at P2,405 a share.

The third most actively traded stock was conglomerate DMCI Holdings which rose by as much as 4.3% in mid-session, its highest level since listing in December 1995. Profit-taking by the end of the session trimmed its gains to just 1.4% to P17.50 a piece.

Analysts said investors were bullish about the stocks’s income prospects, especially for its mining and property units.

Global port operator International Container Terminal Services Inc. also rose to a fresh two-year high, surging by 9.8% to P33.50 per share. It was the stock’s best close since May 2008.

ICTSI disclosed it planned to reclassify 1 billion of its preferred shares to raise its foreign investor base.