Philippine stocks mirror Wall Street gains

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The stock market climbed its way back above the 6,500 level as it mirrored gains in the US market.

The Philippine Stock Exchange index won its second straight session yesterday, rising by 0.89 percent or 57.46 points to close at 6,507.49.MANILA, Philippines —

Philstocks Financial research and engagement officer Mikhail Plopenio said the local market joined its Asian peers in the green territory on Wednesday, with the region taking cues from the S&P 500 and the NASDAQ’s record performances overnight. However, he said net market value turnover was tepid at P4.04 billion, lower than the year-to-date average of P4.98 billion.Services and financials led the charge, surging by 1.78 percent and 1.72 percent, respectively.

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