The local stock barometer bucked the bloodbath seen across regional markets on Friday as domestic investors picked up battered blue chips, making up for the heavy foreign selling.The Philippine Stock Exchange index (PSEi) firmed up by 38.91 points or 0.58 percent to close at 6,794.86, outperforming stock markets in the region which mostly tumbled on valuation concerns.For the week, the PSEi shed a total of 131.55 points or 1.9 percent to finish at 6,794.86.
“Shares in the Philippine market closed on the positive as an outsized surge in bond yields spooked investors, who rushed to dump risk assets, especially high-flying technology names,” said Luis Gerardo Limlingan, managing director…
Keep on reading: Blue chips rally PSEi amid tumultuous day for regional markets