Stocks rise, index back at 6,700 level

The PSEi hiked 80.62 points or 1.21 percent to close at 6,726.14 as the Property sector led the advance across the board. However, volume dipped to 917 million shares worth P5.96 billion as gainers beat losers 99 to 79 with 46 unchanged.“Philippine share climbed along with the rest of the region on a batch of strong earnings from the US retail sector, which boosted market sentiment,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “Back home, President-elect Bongbong Marcos announced the line-up of his economic team, which the business community reacted favorably to.“ AB Capital Securities said “The local market continues to inch higher, following the rebound in global markets and as local investors start to digest the economic team of the incoming administration.”

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Philippine stocks track rebound in Asian markets - BusinessWorld OnlinePHILIPPINE SHARES corrected on Wednesday, tracking Asian markets, even as concerns over rate hikes and the global economy’s prospect continued to affect sentiment. READ:
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Global stocks set for partial, lackluster and uneven recovery - BusinessWorld OnlineBENGALURU — Global stocks are forecast to recover from current levels but stay well below record highs this year and next as a majority of more than 150 equity analysts polled by Reuters predicted a rebound that is both lackluster and uneven.
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