PSEi tracks regional uptrend
MANILA, Philippines – Share prices were up anew yesterday, tracking the uptrend in global markets.
The PSEi gained 60.67 points or 0.89 percent to finish at 6,866.81 while the broader All Shares index gained 36.32 points or 0.88 percent to end at 4,153.06.
Most indices closed in positive territory except for the mining and oil, which tumbled 27.42 points or 0.22 percent to settle at 12,075.18.
Total value turnover reached P4.98 billion. There were 89 advances versus 88 decliners. There were 47 issues that were left unchanged.
An analyst from a foreign brokerage said the local market tracked Asian stocks which rose late Tuesday on the back of Wall St. gains.
Wall St. moved up as investors remained hopeful on the economic policies of US president-elect Donald Trump.
Asia staged a relief rally after investors realized that fears over the Italian referendum may be exaggerated, the analyst said.
On Tuesday, the Dow Jones Industrial Average rose 35.54 points, or 0.2 percent to close at 19,251.78 while the S&P 500 index gained 7.52 points, or 0.3 percent to finish at 2,212.23. |
