Bargain hunting helps market snap losing streakThe Philippine Stock Exchange is located at Bonifacio Global City in Taguig, Metro Manila. MANILA, Philippines — The stock market roared back into life, snapping its seven-day losing streak as investors capitalized on bargains. The benchmark Philippine Stock Exchange index (PSEi) climbed by 1.82 percent or 119.56 points to finish the week on a high note at 6,676.65. This is considered a healthy upward correction amid some bargain hunting or bottom-fishing activities,” RCBC chief economist Michael Ricafort said. Market breadth finally turned out positive as advancers crushed decliners, 146 to 56, while 52 issues were unchanged.

Source: Philippine Star November 16, 2024 04:02 UTC