The local stock market started the week in the negative as investors cash out prior to the government’s decision on whether to loosen lockdown measures.
Photo credit: https://www.pse.com.ph
The main index fell 116.07 points or 1.68 percent to close at 6,810.34 with only the Mining and Oil cou
Stocks bounce on bargain hunting – Manila Bulletin mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
Stocks fall further mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
The local stock market gave up most of the previous day’s gains Wednesday, (Feb. 17) as investors went back to selling mode.
The main index fell 77.63 points or 1.1 percent to close at 6,966.43 as all counters retreated, led by the Financials and Property sectors.
Volume remained high at 17.
Published February 16, 2021, 4:06 PM
The local stock market bounced back to the 7,000 level as global stocks rallied. The PSEi hiked 84.85 points or 1.22 percent to close at 7.044.06 as sub-indices rose across the board.
A hefty 21.86 billion shares worth P18.16 billion changed hands as gainers beat losers 122 to 89 with 54 unchanged. “Philippines shares closed stronger as US future contracts sustained its strong upward momentum,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He noted that many investors are looking forward to an injection of stimulus spending that would further boost the world’s largest economy from a slump caused by the pandemic.
AAA Equities Head of Research Chris Mangun said “The PSEi bounced back and ended higher on last-minute buying. Selling pressure has diminished as investors gained optimism from the global rally in equities.”