SHARE prices inched up on Thursday following the announcement of strong first quarter economic growth, with analysts noting that investors had held back from a buying spree ahead of the results of a Monetary Board policy meeting. The benchmark Philippine Stock Exchange index (PSEi) added 15.73 points or 0.21 percent to close at 7,571 while the broader all shares was also up 9.42 points or 0.20 percent to 4,629.91. “[The gain was] likely due to the upbeat Q1 GDP (gross domestic product) release, which showed that Q1 GDP grew slightly ahead of consensus estimates,” China Bank Securities Corp. research director Garie Ouano said. Aside from this they are also waiting for the decision of BSP,” IB Gimenez Securities research head Joylin Telagen said. “Value turnover was below average though, suggesting that many investors are still holding out ahead of the BSP’s policy decision this afternoon,” Ouano also noted.

Source: Manila Times May 10, 2018 16:30 UTC