PSE index edges up on regional optimism

The Philippine Stock Exchange index (PSEi) closed slightly higher on Friday, July 3, ending at 6,372.66 with a gain of 8.58 points or 0.14 percent.

Positive regional market trends and better-than-expected US jobs data contributed to the optimistic sentiment.

For the week, the PSEi gained 180.82 points or 2.9 percent, driven by positive results from early coronavirus vaccine trials by Pfizer and BioNTech.

Technical analysts at Papa Securities noted a bullish pattern breakout with an immediate target of 6,500 to 6,600 for the PSEi.