Philippine stocks closed higher Thursday on positive cues from Wall Street’s overnight performance.
The Philippine Stock Exchange index rose 30.52 points, or 0.48 percent, to close at 6,378.86, while the broader all-shares index inched up by 6.81 points, or 0.18 percent, to settle at 3,705.34.
Philstocks Financial Inc. research head Japhet Tantiangco said bargain-hunting also helped the local market rise for the second straight trading day.
Four of the six sectoral indices ended in the green. Financials rose 1.14 percent, followed by holding firms which improved 1 percent, mining and oil by 0.94 percent and industrial by 0.17 percent.
Services went down by 0.80 percent and property by 0.17 percent.
Trading remained thin, with net value turnover at P3.96 billion as many investors stayed on the sidelines amid lingering uncertainties primarily on the US’ foreign trade policies.
Foreigner investors were net sellers, with net outflows amounting to P163.58 million. Decliners edged advancers, 107 to 95.
DMCI Holdings Inc. was the top index gainer, climbing 3.99 percent to P11.46, while JG Summit Holdings Inc. was the main index laggard, declining 5.88 percent to P17.60.
Jenniffer B. Austria