The benchmark Philippine Stock Exchange index (PSEi) gained 73.49 points, or 0.95 percent, to finish at 7,755.75 while the broader All Shares index grew 32.98 points or 0.71 percent to end at 4,636.10.
File
Index hits year high on US Fed stance
Iris Gonzales (The Philippine Star) - May 5, 2017 - 12:00am

MANILA, Philippines -  Investors returned to the market yesterday, driving the index to its highest level so far this year, after the US Federal Reserve kept rates steady and downplayed weak first quarter economic growth.

The benchmark Philippine Stock Exchange index (PSEi) gained 73.49 points, or 0.95 percent, to finish at 7,755.75 while the broader All Shares index grew 32.98 points or 0.71 percent to end at 4,636.10.

“The PSEi rebounded off the previous session’s marginal slide pushing the measure closer to the pre-Duterte administration close,” said Justino Calaycay of Philstocks Financials.

Mining investors took profits after mining stocks surged on Wednesday when the Commission on Appointments rejected Gina Lopez’s appointment as environment secretary.

Total value turnover reached P7.52 billion as advancing stocks outpaced decliners, 116 to 80 while 47 issues were left unchanged.

Elsewhere in the region, Asia was a mixed bag with Chinese stocks stumbling alongside Australian and New Zealand shares.

Japan’s Nikkei index jumped 135 points as the US currency firmed on the Fed decision to stay rate adjustments.

Southeast Asia reflected the mix of the wider region, with the bigger markets of Singapore, Malaysia and Indonesia tilting lower.

PHILIPPINE STOCK EXCHANGE
Philstar
Facebook
  • Latest
  • Trending
Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

SIGN IN
or sign in with
Read and share the latest news
whenever and wherever you are.
Top Stories
Features the most relevant stories,
exclusive content, analyses and special reports.
As It Happens
Get bite-sized highlights and up-to-date
information as the news breaks.
Latest
View the most recent
stories of the day.
Log-in
Lorem ipsum dolor sit amet,
consectetur adipiscing elit.
Quisque justo est, auctor vel ullamcorper.
Log-in
Lorem ipsum dolor sit amet,
consectetur adipiscing elit.
Quisque justo est, auctor vel ullamcorper.
How to follow As It Happens stories
STEP 1
Click the story in the As it Happens section.
How to follow As It Happens stories
STEP 2
Click "Follow Story" for updates on the news.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.
How to follow Author
STEP 1
Click on the author's name in the article.
How to follow Author
STEP 2
Once you click on the author's name, you will be
brought to the Authors page. Click "Follow Author"
to stay updated on the author's works
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.
How to follow Tags
STEP 1
Click on a tag in the article.
How to follow Tags
STEP 2
When you click on a tag, it will take you to the
dedicated tag page where you'll see the article
viewed, along with other stories with that tag.

Click the "follow tag" button to stay updated on
the topic.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aliquam eu metus vitae felis tincidunt finibus ut id sapien. Integer volutpat dui eu malesuada dignissim. Sed varius justo nulla, fringilla convallis sem porta sed.