Stocks open the week in the green

Philippine stocks opened the week in the green on bargain-hunting and window-dressing activities.

The 30-company Philippine Stock Exchange index rose 30.05 points, or 0.49 percent, to close at 6,172.86 Monday, while the broader all-shares index picked up 8.20 points, or 0.25 percent, to settle at 3,325.15.

China Bank Capital managing director Juan Paolo Colet said the daily value turnover improved to more than P8 billion as institutional funds positioned for changes on the index.

Bloomberry Resorts Corp. is set to replace Aboitiiz Power Corp. in the PSEi Tuesday, while Century Pacific Food Inc. will be included in the index on Wednesday in place of Metro Pacific Investments Corp.

Colet said the upward momentum was prone to selling pressures.