PH Stocks Edge Higher on Bargain Hunting

Manila—(PHStocks)—Philippine stocks recover slightly on Friday, December 13, as investors start to hunt for bargain stocks after bumpy trading this week.

The Philippine Stock Exchange index (PSEi) closed at 5,767.13, nearly unchanged from Thursday’s (12 December) 5,762.53. Nevertheless, this is being seen as a start of a turnaround as investors started to hunt for bargains.

Only the Holding Firms (+0.85%) and the Services (+0.56%) sectors managed to pull in some gains. Property, the biggest loser, just shed 0.88%. The wider All-Shares index, likewise, was nearly flat.

Trading was moderate, with value turnover reaching PhP9.32 billion on 1.33 billion traded shares. Foreign buying reached Php4.61 billion, while foreign selling totaled PhP6.13 billion.

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