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Manila Bulletin devider Business devider The Stock Market devider Stocks end the week higher

Stocks end the week higher

Published Jan 3, 2025 08:32 am

The local stock market rose further after a positive Philippine manufacturing index spurred more bargain hunting.

The main index added 53.42 points or 0.82 percent to close at 6,603.81 as Banks led the advance across the board. Volume was still low at 2.77 billion shares worth P3.78 billion as gainers outnumbered losers 126 to 84 with 46 unchanged.

“Philippine share continued with the bargain hunting as funds continue to positions for the year ahead, while awaiting for other foreign funds to return from an extended holiday,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Philstocks Financial Research Manager Japhet Tantiangco said, “the local market extended its rise as investors cheered the S&P Global Philippines Manufacturing PMI for December which stood at 54.3. The figure boosted investors confidence towards the local economy.”

 

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Regina Capital Development Corporation Luis Limlingan Japhet Tantiangco Philippine Stock Exchange index (PSEi) Philstocks Financial
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