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PSEi up with other regional bourses

Business | The Stock Market

PSEi up with other regional bourses

By James A. Loyola

The local stock market inched up to the 6,900 level although some investors have started profit-taking.

The main index added 5.79 points or 0.08 percent to close at 6,903.15 with sectoral indices equally divided. Volume was stable at 529 million shares worth P4.92 billion as gainers outnumbered losers 98 to 88 with 49 unchanged.

“Philippine shares traded mix, mimicking the performance of the US, recording slight gains while the Nasdaq slid for the third straight day as investors await Nvidia’s latest earnings,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Philstocks Financial Research and Engagement Officer Mikhail Plopenio said, “this Thursday, the local market inched up, driven by optimism on the corporate sector’s fourth quarter and 2023 performance results as initial reports have been positive so far.

“The anticipation aided the bourse to close at 6,900 levels and join most of the regional peers in the green territory. The increased vehicle sales in January also boosted the positive sentiment as this implied that spending remained strong,” he added.

Related Tags

Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan Mikhail Philippe Plopenio Philstocks Financial

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