The local stock barometer closed above the 8,000 mark for the first time this year on Friday as better-than-expected China economic growth data buoyed regional markets.
The main-share Philippine Stock Exchange index (PSEi) gained 73.92 points or 0.93 percent to close at 8,030.06, extending its winning streak for the sixth straight session.
All counters surged as investors continued their buying binge. For the week, the PSEi surged 258.54 points or 3.3 percent.
The services counter led the PSE’s higher as it rose 1.73 percent. The counter was in turn boosted by PLDT’s 3.45-percent gain.
Total value turnover for the day amounted to P11.13 billion. Foreign investors continued to load up on local stocks, bringing in P1.86 billion in net inflows for the day.
There were 111 advancers
that edged out 80 decliners while 43 stocks were unchanged.
Investors bought shares of Ayala Land, SM Investments, GTCAP, Ayala Corp., Megaworld and Aboitiz Equity Ventures, which all gained more than 1 percent. Ayala Land (up 1.75 percent) was the day’s most actively traded stock.
SM Prime, BPI, URC, Globe and BDO contributed modest gains to the index.
Outside of PSEi stocks, notable gainers included BHI (+12.5 percent) and retailer MRSGI (+4.54 percent). On the other hand, LTG lost 1 percent while JG Summit also slipped.
Since the start of the year, the PSEi has gained close to 17 percent. Doris Dumlao-Abadilla