After the close on Thursday, the Philippines stocks were higher as gains in the sectors like Property, Services, and Holding Firms, which closed at 3,457, 7,707 and 1,548 respectively, pulled the shares up. The Philippine Stock Exchange Inc. Composite advanced by 86.93 points or gained 1.13% to close at 7,762.35.
Best performer of the session on the PSEi Composite was Globe Telecom Inc, which rose 4.48% or 90.000 point to trade at 2100.000 at the close. Another best performer was Metro Pacific Investments Corp., which added 3.50% or 0.240 points to end at 7.100 and Philippine Long Distance Telephone Company was up 2.33% or 40.000 points to 1756.00 in late trade.
On the other hand, the worst performers are Bloomberry Resorts Corp., Robinsons Land Corp., and Petron Corp. Said companies fell 2.36% or 0.130 points to trade at 5.390 at the close, declined 1.60% or 0.500 points to end at 30.700, and dropped 1.53% or 0.160 points to 10.300 respectively.
Philippine shares went for a fourth straight session of gains as rising stocks outnumbered declining ones on the Philippine Stock Exchange by 108 to 65 and 46 ended unchanged.
Local investors were the main driving factors that pushed the market higher while foreign investors remained net sellers for the 21st straight trading day. However, net foreign selling had declined to a shy P30 million.
At the end of their meeting on Thursday, the Philippine central bank left its benchmark interest rate unchanged at 3.0%, expecting inflation to remain subdued.
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