PSEi closes positively amid regional market turmoil

The Philippine Stock Exchange index (PSEi) closed positively on Friday, rising by 0.58 percent or 38.91 points to end at 6,794.86 despite a tumultuous day for regional markets.

The Financials and Property sectors led the gains with increases of 2.9 percent and 2.14 percent respectively.

Luis Limlingan from Regina Capital Development Corp. attributed the positive close to investors buying battered blue chips in response to an outsized surge in bond yields that spooked risk asset dumping, particularly in high-flying technology names.