(philstar.com)
MANILA, Philippines (Xinhua) - The Philippine market opened the week positively on selective buying.
The bellwether Philippine Stock Exchange index climbed by 0.33 percent or 10.17 points to close at 3,087.35 on Monday, while the all share index rallied by 0.4 percent or 7.89 points to 1,944.95.
Of the six counters, only property firms tumbled while holding firms gained the most.
Trading was thin where only 1.54 billion shares valued at P2.73 billion ($59.5 million) changed hands. Foreign investors were net buyers at P65 million ($1.4 million).
Market breadth was positive where a total of 62 stocks gained while 39 slipped and 59 were unchanged.
"Investor sentiment is seen to remain generally on the safe side with economic data both here and abroad have yet to give off convincing signs we are out of the woods," Justino Calaycay, analyst at Accord Capital Equities Corp., said in his daily stock market comment.
Calaycay said the market is still in a "year-long uptrend line" even if the pace of its advance has already slowed down as equity investors wait for fundamental or economic reasons that will support the surge in the stocks' values. CLICK TO READ MORE...
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