The 30-company Philippine Stock Exchange index inched up 5.81 points, or 0.09 percent, to close at 6,181.06, while the broader all-shares index rose 7.19 points to finish at 3,341.97.
Meanwhile, Asian markets mostly rose Friday. The US labor report comes at the end of a week that has seen traders cheered by figures indicating the world’s top economy is showing signs of softening, easing pressure on the Federal Reserve to lift interest rates further. While the reading was in line with expectations, traders were little moved as they focused on the non-farm jobs figures due later Friday, with hopes they will show the labor market continued to soften in August.
Bridgewater Associates’ Karen Karniol-Tambour said: “When you look at what it takes to get fast rate declines, usually you need the economy collapsing pretty quickly.” Asian investors traded cautiously Friday, with Tokyo, Seoul, Shanghai, Mumbai, Taipei, Manila, Bangkok and Jakarta up but Sydney and Wellington in the red.London rose at the open, while Paris and Frankfurt dipped.
The moves follow a series of pledges in August to shore up the industry, which is being ravaged by a gargantuan debt crisis.