Local stock index up for sixth straight session

MANILA, Philippines—The majority of local share prices continued to increase for a sixth straight session Friday, bucking the trend across the region and on Wall Street.

The benchmark Philippine Stock Exchange Index rose 0.46 percent or 18.9 points to close at 4,153.4 points on buying of select blue-chip shares.

Shares of port developer ICTSI rose 5.9 percent to P52 apiece. It was the day’s most actively traded blue-chip share. Shares of IPVG Corp., a former technology firm in the midst of a corporate restructuring program, rose 27.5 percent to close at P3.29 each, making it the day’s top gainer.

Gainers also included Philex Mining Corp. (PX) at 4.24 percent and mining firm Semirara (SCC) at 3.9 percent.

All subindices, except for holding firms, ended the week in the green. The rally was led by the services sector, rising by 1.09 percent.

There were 79 advancers against 59 decliners, while 41 issues were unchanged.