PSEi retests 6,800 level

MANILA—The local stock index retested the 6,800 level on Tuesday before paring gains, riding on strong sentiment from foreign investors.

The Philippine Stock Exchange index added 17.44 points or 0.26 percent to close at 6,784.95, rising for the fourth straight session. The index is now trading at its highest level for 2014.

The PSEi hit as high as 6,815.26 in intra-day trade but gave up some gains as some investors pocketed gains.

Dealers said sentiment was very strong, making up for the usual post-holiday lethargy among domestic investors. Net foreign buying for the day was heavy at P2.68 billion, based on PSE data.