MANILA, Dec. 2 -- The Philippine stock market climbed on Tuesday on extended buying.

The bellwether Philippine Stock Exchange index added 0.17 percent or 12.50 points to 7,344.23, while the broader all-share index rose by 0.24 percent or 10.14 points to 4,316.59.

Trading volume reached 5.42 billion shares worth 8.91 billion pesos (about 198.37 million U.S. dollars) with 91 stocks declining, 83 advancing, and 56 were unchanged.

All six counters were up, led by the property sector.

"The PSEi extended its run to a third day keeping December return in positive territory and in line with historical precedents," analyst Justino Calaycay of Accord Capital Equities Corp. said in his daily stock market comment.

"Two days into the month and the market is taking a form consistent with the historical probabilities we had outlined in a previous report," Calaycay said.

The analyst noted that while initial public offerings plays may still have something left for the balance of the week, the true test of the market's resilience in holding fort above 7,300 -- and consequently an attempt to breakthrough 7,400 -- comes as the days in the trading calendar come to a close.

Wednesday trades will see the market reflect investors' collective expectations on Thursday's release of November inflation data, he said.

"Whatever comes up will lend some hints on the BSP's action on Dec. 11 when it meets for the last time this year. Investors will generally be looking outwards for guidance," he said.

The BSP refers to the Bangko Sentral ng Phlipinas, the country' s central bank.

Stocks in the 30-company index were mostly up. These include Ayala Corp., Megaworld Corp. and BDO Unibank, Inc.

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