Local stocks returned to positive territory Friday after the government reported improved employment data.
The benchmark Philippine Stock Exchange index climbed 39.87 points, or 0.64 percent, to close at 6,222.94, while the broader all-shares index rose 13.24 points to settle at 3,360.23. Philstocks Financial Inc. research engagement officer Claire Alviar said investors welcomed reports that employment rate in July remained strong at 95.2 percent, while unemployment rate eased to 4.8 percent in July from 5.2 percent a year ago.
RCBC chief economist Michael Ricafort said investors also cheered the signing of free trade agreement between the Philippines and South Korea, which could boost investments, employment and overall economic growth.
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