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Manila Bulletin devider Business devider Stocks bounce as bargains emerged

Stocks bounce as bargains emerged

Published Jan 7, 2021 04:09 pm

Local share prices rose after backtracking for two days as investors started picking up cheaper stocks.

PSE file photo (Photo credit: https://www.pse.com.ph)


The PSEi regained 71.76 points or 1.92 percent to close at 7.119.61 as sub-indices were green across the board.

Volume declined to 46.43 billion shares worth P8.73 billion with gainers beating losers 159 to 72 with 31 unchanged.


“Philippine shares bounced back despite an outbreak of civil discord in the U.S. Capitol by Trump supporters,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Philstocks Financial Senior Analyst Japhet Tantiangco said “The local bourse climbed on Thursday as bargain hunters took advantage of the market’s prior two straight days of decline.”


He added that, “Investors also took cue from the Dow Jones Industrial Average’s record high performance overnight.”

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Securities and Exchange Commission (SEC) PSE Regina Capital Development Corporation
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