RP stocks end marginally up Monday in thin trade

(philstar.com)

MANILA, Philippines (Xinhua) - The Philippine stock market opened the week with minimal gain, indicating that most investors are still unsure of the local equity trade despite its past rallies.

The bellwether Philippine Stock Exchange ended Monday marginally higher, up 0.12 percent or 3.88 points to 3,067.79. The all share index gained 4.56 points or 0.23 percent higher to finish at 1,935.58.

Investors' interest was lackluster, with 907 million shares worth P2.28 billion ($49.9 million) traded. Foreign sellers beat buyers at P1.1 billion ($24.08 million).

Investors are wary of entering the market given the absence of market moving news, analysts said.

"Investors are all waiting for one another to make the move before making their own bets," says Tristan Valerio, analyst at local brokerage firm Lucky Securities, Inc.

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