PSEi joins global rally in stocks

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The stock market took its cue from developments abroad, propelling the main index to a good start for the month of November.

While the Philippine Stock Exchange index failed to make it back to the 6,000 level, it managed to climb by 15.49 points or 0.26 percent to close at 5,989.27 yesterday.MANILA, Philippines —

“Philippine shares opened the first trading day of November relatively higher, which was partly influenced by the latest S&P Global manufacturing data. Additionally, a pullback in the US Treasury yields boosted the market activity,” Luis Limlingan of Regina Capital said. However, she said market participation remained weak with a net value turnover of P3.28 billion, preventing the market from breaching the 6,000 level.

After a fallow past two months, markets have recovered some of their mojo after the US central bank left borrowing costs on hold for a second straight meeting and hinted that no more increases were likely. Japanese Prime Minister Fumio Kishida announced a stimulus package worth more than $100 billion on Thursday as he tries to...

State-run Philippine Amusement and Gaming Corp. is targeting to remit P56 billion to state coffers next year as earnings are...

 

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