Philippine stock market extends gains

Philippine Stock Exchange file photo. courtesy Reuters
Philippine Stock Exchange file photo. courtesy Reuters

MANILA, Feb. 6 (PNA) — The Philippine stock market finished slightly higher along with other Asian bourses, extending its gains for a second day on Thursday, following the positive closings from Wall Street.

The benchmark Philippine stock exchange index (PSEi) edged up 6.18 points to 5,914.59 from previous day’s 5,908.41 finish.

Brokerage firm said local equities continued to mirror follow-through positive closings from Wall Street.

This was supported by hopes for another status quo from the local central’s policy meeting despite the slight uptick in January’s consumer prices, it said.

”U.S. and European stocks ended Wednesday flat providing little guidance to Asian trades. However, carrying on the momentum of the previous day’s rebound, indexes in Asia advanced for a second day in a row,” said Justino Calaycay, an analyst at Accord Capital Equities Corp.

Almost all equity indices rose moderately.

The sub-indices of mining and oil and services were in the negative territory.

Volume of transactions reached 1.06 billion shares valued at P5.14 billion.

Advancers won decliners, 77 to 62, while 44 stocks were unchanged.

The day’s top gainers were led by Central Azucarera de Tarlac Inc., Abra Mining and Industrial Corp., Maybank ATR Kim Eng Financial Corp., Harbor Star Shipping Services Inc. and Medco Holdings Inc. (source: Philippine News Agency)