Tracking upbeat US and regional markets, the local stock barometer breached the 7,000 barrier to close at a four-month high on Friday.
The Philippine Stock Exchange index (PSEi) gained 38.25 points or 0.55 percent to close at its intraday peak of 7,002.26 as some foreign funds flowed into the market.
For the week, the index added 51.75 points or 0.7 percent.
Friday’s closing marked the PSEi’s best level since ending at 7,044.06 on February 16, 2021.
This suggests that the market is back to levels last seen before the resurgence of new local COVID-19 cases that triggered the tightening of quarantine restrictions in March.
The government has started to ease mobility restrict…
Keep on reading: PSEi finally smashes 7,000 hurdle in best performance in 4 months