By James A. Loyola
The local stock market posted strong gains on Monday on the back of positive earnings reports, overseas economic data and hopes over the US-China trade war.
The Philippine Stock Exchange index (PSEi) jumped 82.53 points, or 1.03 percent, to close at 8,059.65 as share prices rose across the board. Volume improved to 1.15 billions shares worth ₱6.57 billion as advancers bear losers 120 to 62 with 41 stocks steady.
“Philippine shares rose sharply as investor sentiment got a lift from much stronger-than-expected US jobs data and optimism over the trade negotiation between China and US,” said Regina Capital Development Corporation Managing Director Luis Limlingan.