Philippine stocks rebound on bargain hunting

Philippine stocks rebounded on Monday due to bargain hunting, with the PSEi rising 1.45% or 84.90 points to 5,930.92.

The All Shares index also increased by 1.32%, while most sectoral indices followed suit except for Financials which declined.

Market gains were spurred by positive US employment data showing a higher-than-expected increase in non-farm payrolls and optimism from recent US economic stimulus measures.

Volume totaled PHP4.88 billion, with advancers outnumbering decliners 125 to 74.