USD/PhP: 43.26 + 0.15 PSEi: 4285.07 + 5.54
USD/JPY: 81.95 PFINC: 988.54 + 20.06
EUR/USD: 1.3801 BDO: 60.95 + 0.95
GBP/USD: 1.5770 BPI: 57.45 + 0.85
PDSTF3M: 3.8923 MBT: 79.25 + 3.50
Prices as of 4:00pm Source: Bloomberg, Reuters
RP stocks rebound
By Doris Dumlao
MANILA, Philippines – (UPDATE) Local stocks bounced mildly on Wednesday after succumbing to bouts of profit-taking since last week, likewise riding on firm trading across the region.
The main-share Philippine Stock Exchange index closed 5.54 points or 0.13 percent higher at 4,285.07.
The day's gains were led by the financial counter, which rose by two percent on expectations of further monetary easing through bond-buying by the US Federal Reserve. The industrial counter likewise firmed up during the session.
The holding firms, property, services and mining/oil counters, on the other hand, continued to trade in the red.
Despite the overall index gain, decliners outnumbered advancers 73-68 while 39 stocks were unchanged. Value turnover amounted to P5.5 billion.
Source: www.inquirer.net
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
Rhys Cruz
Junior Researcher
(632) 858-3001
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