Stocks rose Tuesday, after a long break, as investors bought property companies which announced new projects or land-banking activities to support future growth.

The Philippine Stock Exchange index, the 30-company benchmark, gained 32 points, or 0.6 percent, to close at 5,175.62.  Four of the six subsectors ended in the green.

The heavier index, representing all shares, also rose 13 points, or 0.4 percent, to 3,442.97, as gainers led losers, 82 to 68, with 44 issues unchanged.  Value turnover amounted to P4.9 billion.

Analysts expect the stock market to rebound later this week.  “The market may come alive by the latter part of the week should second-quarter GDP numbers exceed market expectations of 5.86 percent,” analysts at Security Bank said.

Property companies led gainers Tuesday.  Ayala Land Inc. jumped 4.2 percent to P22.35 while SM Prime Holdings Inc. increased 1.2 percent to P13.76.

Eton Properties Philippines Inc. climbed 28.9 percent to P4.55, after the PSE lifted its trading suspension order, making it the highest gainer Tuesday.

San Miguel Corp. added 0.5 percent to P112.30.  The conglomerate has a stake in Philippine Airlines, which signed a $7-billion deal with Airbus for the delivery of 54 new aircraft over the next three years.

Meanwhile, Asian markets were mostly lower Tuesday, weighed down by global worries about the impact of the eurozone debt crisis, while investors awaited the release of key US economic data.

The Tokyo Stock Exchange’s benchmark Nikkei lost 0.9 percent to 9,003.19. South Korea’s Kospi index lost 0.3 percent to 1,912.42. Key indexes were also down in Singapore, Indonesia and Taiwan. Mainland Chinese shares were mixed, while benchmarks in New Zealand, Thailand and Australia rose.

Nobuhiko Kuramochi, head of the investment information department at Mizuho Securities Co. in Tokyo, said that traders were not going to make major moves ahead of key events later in the week, including US Federal Reserve Chairman Ben Bernanke’s speech in Wyoming.

Traders were also looking ahead to the release of US April-June gross domestic product data set for Wednesday.

“Attention is on how overseas markets are faring as those herald major risks,” Kuramochi said. “With Japanese exports already declining, they will determine the momentum of manufacturing issues.”

Stock markets in London were closed Monday for a bank holiday, dampening trading activity.  Overnight, Wall Street remained subdued, awaiting signals from the Fed about possible help for the economy.

The Dow Jones industrial average fell 0.3 percent to 13,124.67. The Standard & Poor’s 500 Index fell 0.69 point, or 0.05 percent, to 1,410.44. The Nasdaq composite index rose 0.1 percent to 3,073.19. With AP