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Manila Bulletin devider Business devider Stocks rise on bargain hunting

Stocks rise on bargain hunting

Published Aug 10, 2020 04:35 pm

The local stock market rose further yesterday as sentiment was boosted by the US jobs report.

The Philippine Stock Exchange index (PSEi) gained 84.90 points, or 1.45 percent, to end at 5,930.92 with only the Financials sector retreating.

Volume was lower though at 82.96 billion shares worth P4.88 billion as gainers beat losers 125 to 74 with 45 unchanged.

“Bargain hunting spilled over to the start of the week, as the latest employment report showed the economy added more jobs than expected last month and the latest stimulus from the US boosted sentiment as well,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

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