Roundup: Philippine stocks rally Monday as investors resume buying spree

(Trading Markets.com)
Philippine stocks rallied on Monday as investors resumed their buying spree following the positive developments overseas.

The bellwether Philippine Stock Exchange

index added 1.19 percent or 38.71 points to touch a two-year-and two-month high of 3,294.83. Likewise, the broader all share index gained 0.79 percent or 16.04 points to 2,035.62.

Trading value was above the three billion-peso average where a total of 1.21 billion shares valued at 4.24 billion pesos (94.43 million U.S. dollars) were changed hands. Foreign buyers beat sellers 1.94 billion pesos (43.21 million U.S. dollars) versus 1. 67 billion pesos (37.19 million U.S. dollars), respectively.

Most issues were in the upside where a total of 64 issues went up versus the 41 stocks that closed lower. Some 65 shares meanwhile were unchanged.

Similarly, all six sectors finished in the green, led by the property shares which was up by 2.78 percent or 33.33 points to 1, 231.29.

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