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Stocks rise on bargain hunting

The Philippine stock market ended the week yesterday higher on continued bargain hunting.

The Philippine Stock Exchange index (PSEi) gained 54.53 points, or 0.92 percent, to close at 5,999.40 as all sectors advanced.

However, volume was lower at 1.47 billion shares worth P4.91 billion with gainers barely ahead of losers at 93 to 92 as 57 were steady.

“Local shares closed higher as as the PSEi followed attempts by lawmakers to pass the fiscal stimulus package. The market closed though before news of President Trump and his wife contracted the Covid-19 virus, hence investor reaction did not reflect the news,” said Regina Capital Development Corporation Managing Director Luis Limlingan.(James A. Loyola)

Source: Manila Bulletin (

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