The main index jumped 142.88 points or 1.96 percent to close at 7,452.82 with the Property and Services sectors leading the rally across the board. Volume rose to 1.16 billion shares worth P9.53 billion as gainers were almost double the number of losers at 123 to 63 with 49 unchanged.
Philstocks Financial Senior Supervisor for Research Japhet Tantiangco said “The local bourse jumped as strong local economic data and easing tensions abroad spurred optimism.” He noted that, “Investors cheered the country’s strong fourth quarter 2021 foreign investment pledges, which if materialized, will help strengthen our economic recovery. The country’s robust cash remittances for 2021 also boosted sentiment.”
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