^

Business

Index returns to 6,800 level on selective buying

Neil Jerome C. Morales - The Philippine Star

MANILA, Philippines - Local stocks started the week on a positive note, returning to the 6,800 territory on selective buying.

The Philippine Stock Exchange index climbed 0.59 percent or 40.11 points to end at 6,802.73, while the broader all shares index rose 0.37 percent or 15.04 points to 4,088.32.

“A good number of second- and third-line issues drew early interest from investors, an obvious shift in preferences as blue-chip and index counters hover near the current year’s high,” said Justino B. Calaycay Jr., an analyst at Accord Capital Equities Corp.

Calaycay said stocks across Asia “started off the week on an encouraging note with the regional benchmark extending last week’s gains and the local index rebounding off Friday’s slide.”

Hong Kong’s Hang Seng, Japan’s Nikkei 225, Singapore’s Straits Times and Shanghai composite index posted gains yesterday.

Regional markets rode on Wall Street’s ascent last Friday on the back of strong payrolls data. The Dow Jones industrial average added 0.52 percent or 88.17 points to close at 16,924.28, while the broader Standard & Poor’s 500 index rose 0.46 percent or 8.98 points to 1,949.44, both fresh record highs.

At home, most counters were in the green, paced by holding firms that gained 0.81 percent or 49.94 points to ends at 6,215.35. But financial firms dropped 0.11 percent or 1.83 points to 1,594.87.

Turnover value eased to P6.24 billion from P7.83 billion on Friday. Gainers outpaced losers, 98 to 73, while 47 stocks did not change.

 

 

vuukle comment

ACCORD CAPITAL EQUITIES CORP

CALAYCAY

CALAYCAY JR.

DOW JONES

HANG SENG

HONG KONG

JUSTINO B

PHILIPPINE STOCK EXCHANGE

STRAITS TIMES AND SHANGHAI

WALL STREET

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with