By James A. Loyola
The local stock market rose again after a slow start on news of developments in the resolution of the US-China trade row.
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After trading flat to lower in the morning session, the Philippine Stock Exchange index (PSEi) closed 65.56 points, or 0.83 percent, higher at 7,985.23 with only the Mining and Oil sector remaining in the red.
Trading volume remained hefty at 2.12 billion shares worth P10.11 billion as gainers led losers 109 to 82 with 51 issues unchanged.
“Philippines shares once more ever closer to the 8,000 level alongside with the S&P 500 in its longest winning streak since Sept. 14, on reports that the US and China have narrowed differences over trade,” said Regina Capital Development Corporation Managing Director Luis Limlingan.