By James A. Loyola
The local stock market made a slight bounce yesterday after bargain hunters stepped in following steep drops in previous sessions.
The Philippine Stock Exchange index (PSEi) gained 58.00 points, or 0.84 percent, to close at 6,967.84 with only the Mining and Oil counter staying in the red.
Volume was lower but still hefty at 682.76 million shares worth ₱8.45 billion as losers edged out gainers 95 to 91 with 45 unchanged.
“Local shares held onto earlier gains even as investors braced for potentially another day of losses on Wall Street sparked by the spread of the coronavirus epidemic outside of China,” said Regina Capital Development Corporation Managing Director Luis Limlingan.