Philippine News Agency
Bargain hunting lifts PSEi, peso strong
Philippine shares rebounded on Thursday, with the PSEi closing higher and surpassing the 6,000 mark after a four-day losing streak.
The bellwether PSEi increased 1.14 percent to 6,113.19 points, while the broader All Shares index rose 0.79 percent to 3,647.73.
Miners led gainers with an index closing at 2.70 percent, followed by Services, Industrial, Holding Firms, Property, and Financials.
Investors supported the local bourse through bargain hunting and by taking positions in anticipation of positive catalysts from the Bangko Sentral ng Pilipinas (BSP) policy meeting.
However, the Monetary Board decided to keep key policy rates unchanged.
Net value turnover of the local stock market stood at PHP5.76 billion, higher than the year-to-date average.
Foreign investors were net sellers with outflows totaling PHP369.44 million.
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The Philippine Stock Exchange index (PSEi) declined by 1.39 percent or 86.98 points to close at 6,154.99, as investors cashed out at the end of the week and engaged in profit-taking.
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Philippine stocks continued to climb on Thursday, with the Philippine Stock Exchange index (PSEi) increasing by 1.14% to close at 6,113.19 points.
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Philippine shares are anticipated to decline as investors await the Bangko Sentral ng Pilipinas' (BSP) policy meeting and MSCI rebalancing results.
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The Philippine Stock Exchange index (PSEi) fell below the 6,000 mark to close at 5,987.75 on Tuesday, a decline of 0.81%.
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