Stocks end higher in thin trade
More News from Philippine Daily Inquirer
Local stocks closed marginally higher on Tuesday as trading volume thinned out due to the Lunar New Year holiday break in key Asian markets.
The main-share Philippine Stock Exchange index added 1.92 points or 0.03 percent to close at 6,459.93. The local index trimmed gains from morning trade.
Across the region, trading was mostly firmer led by Japanese stocks, which benefited from a weakening yen (seen to boost export competitiveness) and talks about a prospective Japanese central bank easing. But many key markets like China, Hong Kong, Singapore and Taiwan were still on holiday break.
At the local market, value turnover was thin at P4.97 billion or about half of daily trades in the previous weeks due to the Lunar year turnover break.
The financial and holding firms counter kept the main index afloat while the industrial, services, mining/oil and property indices ended in the red.
There were 55 advancers, which were overwhelmed by 106 decliners, while 49 stocks were unchanged. Some investors took decided to lock up gains amid the lull. Doris C. Dumlao
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94