Bourse on holiday break

THE LOCAL stock market has been on a holiday break since Wednesday in celebration of the Christmas season.

Before the long holiday pause, however, the Philippine Stock Exchange index has returned to the 7,000 level. On Wednesday, the last trading day before the Christmas break, the PSEi added 36.24 points or 0.52 percent to close at 7,002.42.

For the shortened trading week, the PSEi racked up a total of 135.35 points or nearly 2 percent, aided by yearend window-dressing. However, trading volume was thin as many investors had gone on a holiday break even ahead of the non-working days.

Despite the gains for the last three concessions, however, the PSEi, has yet to catch up with the end-2014 closing of 7,230.57. Doris Dumlao-Abadilla