June 16 (Bloomberg) — SM Prime Holdings Inc. rose the most among Philippine shopping mall operators after the government said consumer spending will accelerate economic growth to up to 6 percent this year.

SM Prime, the nation’s biggest shopping mall operator, increased 2.4 percent to 10.50 pesos as of 9:48 a.m. local time, set for its steepest gain since June 3. The stock rose as much as 4.9 percent earlier today. Ayala Land Inc., the third-largest mall operator, added 1.9 percent to 13.75 pesos, heading for its highest close since June 4. The benchmark Philippine Stock Exchange Index advanced 0.9 percent.

To contact the reporter on this story: Ian Sayson in Manila at +63-2-789-7023 or [email protected]