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Stocks higher ahead of US market reopening

The local stock market continued to rise as investors continued to pick up cheap shares.

The Philippine Stock Exchange index (PSEi) rose 98.18 points, or 1.65 percent, to close at 6,034.03 with only the Mining and Oil counter retreating.

Volume improved but was still thin at 1.19 billion shares worth P4.57 billion as gainers outpaced losers 112 to 84 with 46 unchanged.

“Local shares climbed today in anticipation of US markets reopening as stock futures climbed in overnight trading after technology shares suffered their worst sell-off in more than five months,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Source: Manila Bulletin (

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