The Manila Times

STOCKS EXTEND CLIMB TO 6,700

FAYE ALMAZAN

THE Philippine bourse extended its rebound on Friday, following the movement of most Asian peers.

The benchmark Philippine Stock Exchange index (PSEi) was up by 1.21 percent, or 80.62 points, to another intraday high of 6,726.14 while the wider All Shares climbed 0.77 percent, or 27.48 points, to finish at 3,596.13.

Diversified Securities Inc. trader Aniceto Pangan said the local market followed the rally of most regional markets on “waning fears of higher interest rate hike with retail business in the US on positive earnings.”

Neighboring Asian markets were in the green.

Tokyo was up 0.66 percent, Shanghai inched up by 0.23 percent, Hong Kong jumped 2.89 percent, Seoul increased by 0.98 percent, Jakarta rose 2.07 percent, Singapore added 0.6 percent, Bangkok improved by 0.31 percent and Ho Chi Minh gained 1.33 percent.

Regina Capital Development Corp. Managing Director Luis Limlingan, likewise, noted that the market climbed along its regional peers.

He also attributed the improved market sentiment to the strong earnings from the US retail sector.

Wall Street gained overnight as Dow Jones, S&P 500 and Nasdaq increased by 1.61 percent, 1.99 percent and 2.68 percent, respectively.

The properties sector led the rise of the local sectors at 2.44 percent.

Total volume turnover was at 917.39 million shares valued at P5.96 billion.

Advancers outpaced decliners at 99 to 79 while 46 securities were unchanged.

Business Times

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2022-05-28T07:00:00.0000000Z

2022-05-28T07:00:00.0000000Z

https://digitaledition.manilatimes.net/article/281831467357193

The Manila Times