MANILA, Philippines (Xinhua) – The stock market finished at a record high today after reports that US employment is starting to stabilize.
The bellwether Philippine Stock Exchange index jumped by 1.57 percent or 77.69 points to 5,016.30, while the broader all-share index gained 0.95 percent or 31.90 points to 3,359.70.
Trading volume reached 3.15 billion shares worth P7.11 billion ($166.74 million) with 96 stocks advancing, 66 declining, and 38 were unchanged.
All six counters closed higher, led by the property sector which jumped by 2.25 percent.
“The local bourse, together with Asian indices rallied on positive news on stabilization of US employment data,” DBP-Daiwa Securities, Inc. said.
The Dow Jones industrial average index gained 0.22 percent or 28.23 points to 12,980.30 on Thursday after reports that initial jobless claims fell in the week ending February 25.
Asian equities meanwhile were mostly positive as of Friday afternoon.
The Philippine equities been mostly positive this week. On Thursday, it breached the 5,000 mark for the first time before profit takers booked their gains.
Continue Reading: http://www.philstar.com
