Stocks slightly higher on US gains
By James A. Loyola
Local share prices gained in late trades yesterday after staying in the red most of the day.
The Philippine Stock Exchange index (PSEi) inched up 8.54 points, or 0.12 to close, at 7,439.40 with only the services sector in negative territory.
Volume was weak at 1.3 billion shares worth ₱4.48 billion as gainers barely edged out losers 91 to 89 with 55 unchanged.
“Shares traded slightly higher as investors took heart in mostly solid US fourth-quarter corporate earnings and looked beyond concerns about the coronavirus outbreak’s potential disruption to global supply chains,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
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