PSEi climbs back to 6,600
More News from Doris C. Dumlao
More News from Philippine Daily Inquirer
MANILA, Philippines–Local stocks advanced for the third day in a row on Monday, allowing the main index to breach 6,600, as global markets reassessed earlier expectations on the US Federal Reserve’s tapering of an aggressive asset buyback program.
The main-share Philippine Stock Exchange index gained 45.74 points or 0.7 percent to close at 6,619.95, likewise boosted by optimism over the forthcoming second quarter local corporate earnings reporting season.
Investor sentiment was also aided by mostly firmer regional market, in turn due to China’s meeting of second quarter growth expectations and recent moves to liberalize investment quotas for qualified foreign institutional investors.
The day’s upswing was led by the holding firm, mining/oil and property counters which all gained by over 1 percent. Only the financial index declined for the day.
Value turnover for the day amounted to P6.87 billion. There were 86 advancers that edged out 65 decliners.
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