Philstar
Market bounces back on bargain hunting
The Philippine Stock Exchange index (PSEi) ended its losing streak with a gain of 0.38 percent, closing at 6,053.96 points, driven by bargain hunting.
The broader All Shares index also finished in positive territory, increasing by 0.28 percent.
Investor sentiment remained cautious due to the weakening peso, despite the market's rebound.
Total value turnover was thin at P4.8 billion.
The services sector led the gains with a 1.72-percent jump, while financials experienced the largest decline.
Ayala Land was the most actively traded stock, followed by BDO Unibank and ICTSI.
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The Philippine stock market concluded the week with a slight decline, with the PSEi closing down by 0.09 percent at 6,084.07 points.
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The Philippine Stock Exchange Index (PSEi) remained largely flat on Friday, failing to climb to the 6,100 level as investors adopted a cautious stance ahead of the anticipated earnings season.
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