The local stock barometer slightly gained on Friday as some foreign funds flowed back to the market as the MSCI rebalancing adjustments of global fund managers ended.
The Philippine Stock Exchange index (PSEi) added 9.37 points or 0.14 percent to close at 6,674.51 on follow-through buying after Thursday’s big rally.
For the week, the PSEi racked up a total of 475.26 points or 7.7 percent, mostly due to Thursday’s 5.11-percent gain.
“Philippine shares edged higher after investors digested another batch of positive economic data,” said Luis Gerardo Limlingan, managing director at Regina Capital Development.
US jobless claims fall
Limlingan cited the upbeat US labor data, which s…
Keep on reading: Still hungover from Thursday’s rally, PSEi makes small gain