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Stocks rise on China's monetary easing

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The local stock market resumed its upward trek to end the week higher on the back of good news from China.

The main index rose 86.28 points or 1.30 percent to close at 6,746.33 as the Property counter led the advance across the board. Volume dipped to 2.92 billion shares worth P7.16 billion as gainers swamped losers at 131 to 62 with 43 unchanged.

He added that, “Thursday’s move also came after showing that the U.S. weekly jobless claims rose to 218k for the week ending May 14, hinting that economic growth is slowing.” Philstocks Financial Senior Supervisor for Research Japhet Tantiangco said “The local bourse joined the rise of its regional peers this Friday. The region’s rise is attributed to China’s monetary easing to provide support to its COVID-19 stricken economy.

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 /  🏆 25. in ZA
 

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