Stocks higher on hopes of recovery

Published September 14, 2020, 5:00 PM

by James A. Loyola

The local stock market posted some gains on Monday as investors are becoming more upbeat about the reopening of the economy. 

The Philippine Stock Exchange index (PSEi) added 29.18 points, or 0.49 percent, to 5,997.14 although sectoral indices were evenly mixed. 

Volume remained weak at 1.13 billion shares worth P4.71 billion as gainers outpaced losers 110 to 99 with 37 unchanged. 

“The PSEi ended higher today, just a few points shy of the 6,000 psychological resistance level as investors continue to gain optimism that the economy’s recovery is picking up the pace,” said AAA Equities Head of Research Chris Mangun.  Regina Capital Development Corporation Managing Director Luis said “Philippines shares closed up modestly higher as focus of the week shifts to the FOMC meeting and FTSE rebalancing.”(

 
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