(philstar.com)
MANILA, Philippines (Xinhua) - The Philippine stock market ended higher Wednesday as bargain hunting ensued following recent weakness in the local bourse.
The benchmark Philippine Stock Exchange index gained 0.72 percent or 20.63 points to 2,884.81, while the all share index rose by 0.5 percent or 9.17 points to 1,839.72.
Decliners outnumber gainers at 55 to 49. A total of 55 shares were unchanged. Stocks in the 30-company index improved their valuations.
Share prices of Manila Electric Co., the Philippines' largest power distributor, rose by 3.24 percent. Other issues that went up include heavyweight Philippine Long Distance Telephone Co. and Banco de Oro Unibank, Inc.
Three of the six sectors - property, financials and mining and oil stocks - extended their decline. Holding firms rose by 2.11 percent or 32.17 points to 1,553.77.
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