The stock barometer firmed up on Friday as foreign investors picked up selected blue chip stocks, turning into net buyers after 29 consecutive sessions of dumping local equities.
The Philippine Stock Exchange index (PSEi) added 32.96 points or 0.53 percent to close at 6,269.36, in line with mostly buoyant markets across the region.
“Local shares ended the week on a positive note, as bottom-fishing drove the PSEi to close in positive territory as most of the session was spent in the red. Sentiment also got a boost as US stocks rose on the positive jobs data result, putting a stop to Wall St.’s three-day downturn,” said Luis Gerardo Limlingan, managing director at Regina Capital Deve…
Keep on reading: Foreign investors save the day for faltering PSEi