Shrugging off the spike in the country’s January inflation rate, the local stock barometer climbed back to the 7,000 level on Friday in line with mostly firmer regional markets.
The main-share Philippine Stock Exchange index (PSEi) racked up 115.43 points or 1.67 percent to close at 7,019.18.
For the week, the PSEi recouped a total of 406.56 points or 6.15 percent.
“Investors brushed aside the latest CPI (consumer price index) print and continued with the bargain-hunting following overseas markets. Regional equities was able to extend their 3-day rally on Thursday, boosted by good corporate earnings and positive economic data,” said Luis Gerardo Limlingan, managing director at l…
Keep on reading: PSEi climbs back to 7,000, posts 1.67% gain