Local stocks rise on regional bullishness
The benchmark Philippine Stock Exchange index (PSEi) was off to a strong start this week as it rose along with regional indices on positive economic news coming from the United States.
The PSEi ended Monday’s session higher by 0.97 percent, or 80.99 points, to 8,453.50 while the broader All-Shares index was up 0.62 percent, or 31.2 points, to 5,083.98. This followed broader positive sentiments in the region after a report in the US showed the labor market strengthening.
Only the mining and oil subindex sank on Monday as it declined 0.66 percent. Gainers were led by financials, which were up 1.5 percent, followed by property, which gained 1.17 percent.
A total of 8.6 billion shares valued at P7.2 billion changed hands on Monday. A total of 106 companies gained and 109 closed in the red while 44 were unchanged, data from the PSE showed.
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