The 30-company Philippine Stock Exchange index close above the 7,300 level on profit-taking after two straight days of decline. It ended the week at 7,314.23, up by 30.44 points, or 0.42 percent, from Thursday, while the broader all-shares index picked up 9.88 points, or 0.25 percent, to close at 4,017.27.The peso, however, slumped to 58.32 against the US dollar Friday, following the resumption of trading after it was disrupted by the typhoon Thursday.
Financials led the sectors, advancing 0.97 percent, while services rose 0.76 percent. Properties declined 0.67 percent, while industrial slipped 0.17 percent. US futures were holding steady after Elon Musk’s company surged nearly 22 percent on the back of higher earnings following a streak of disappointing results, helping to lift the Nasdaq and S&P 500.In Asian trade on Friday, Tokyo stocks closed more than half a percent lower, while Hong Kong and Shanghai saw healthy gains.
“Between election jitters and BOJ chess moves, Tokyo markets are probably in for a busy opening on Monday.”