INVESTORS went on a buying binge in SM Investments Corp.’s (SMIC) shares, an index heavy weight that lifted PSEi back to the 7,200 territory on Monday. The benchmark PSEi jumped by 1.21 percent or 86.82 points to 7,233.09, while the wider All Shares climbed by 0.82 percent or 35.62 points to 4,379.01. “The local market rebounded, led by a rally in SM, which climbed by 7.76 percent today after it was sold off heavily last Friday,” Limlingan said. The Holding Firms index was up 1.90 percent on the back of extensive buying in SMIC shares. On Friday, the PSEi dropped 149.18 points or 2.05 percent to 7,146, while the All Shares lost 59.42 points or 1.35 percent to end at 4,343.39.

Source: Manila Times March 13, 2017 17:48 UTC