The Philippine Stock Exchange (PSE) recovered the previous day’s losses as major US banks moved to inject confidence and stability in the sector. The PSE index added 64.82 points or 1.01 percent to close at 6,469.72 on Friday, March 17, as Banks led all sectors higher. Volume improved to 1.02 billion shares worth P8.5 billion as gainers outnumbered losers 102 to 79 with 57 unchanged. “Philippine shares traded in the green after a group of banks said it would aid First Republic with $30 billion in deposits as a sign of confidence in the banking system,” said Regina Capital Development Corp. Managing Director Luis Limlingan. He added that, “The major indices were also buoyed by an announcement from Credit Suisse that it will borrow up to $50bn francs  from the Swiss National Bank.“ Philstocks Financial Assistant Research Manager Claire Alviar said “On the last trading day of the week, PSEi jumped, mirroring the gains of most markets as the banking fears waned in the region following the financial help received by First Republic Bank and Credit Suisse.” She noted that, “Foreigners also supported the market, recording a net inflow of P14.81 million. Chart-wise, support remains at 6,400 while resistance is pegged at the 6,600 level.”