Philippine stocks up 2.39 per cent, index at new record close
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Manila - Philippine share prices closed 2.39 per cent higher on Thursday amid a buying spree triggered by Wall Street's rally overnight. The 30-share composite index of the Philippine Stock Exchange gained 84.80 points to close at a new record of 3,628.62, from Wednesday's finish of 3,543.82. A total of 6.09 billion shares worth 6.08 billion pesos (130 million dollars) were traded. Gainers led losers 96 to 32, while 46 issues were unchanged. Traders said investors welcomed the sharp gains on Wall Street overnight, triggering broad-based buying after several days of correction. The market has been setting record highs since last month amid bright prospects for the local economy and the peso's continued appreciation against the US dollar.
Copyright DPA
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