MANILA – The local stock barometer rebounded on Friday, while the peso-dollar trading resumed after two consecutive days of suspension.
The Philippine Stock Exchange index (PSEi) went up by 0.42 percent points to close at 7, 314.23 while All Shares also rose by 0.25 percent to 4, 017.27.
“The local market rose this Friday by 0.42 percent to 7, 314.23 following two straight days of decline. The bourse bounced back as investors hunted for bargains. Optimistic expectations towards Q3 (third quarter) corporate results gave sentiment a boost,” Philstock Financials, Inc. research manager Japhet Tantiangco said.
Banks led the sectors, advancing 0.97 percent while properties were the worst performers, declining 0.67 percent.
Gainers outnumbered losers 110 to 81.
The peso, meanwhile, closed at 58.32 to a dollar on Friday.
It opened at 57.85 and traded between 57.8 to 58.38, bringing the day’s weighted average to 58.115.
Volume of trade reached USD1.69 billion. (PNA)