Thursday, May 1, 2014

Stock trading resumes




12:10 am | Friday, May 2nd, 2014





The local stock market is set to reopen Friday after Thursday’s holiday break in celebration of Labor Day.


On Wednesday, the Philippine Stock Exchange index (PSEi) climbed 71.46 points or 1.08 percent to close at 6,707.91.


Foreign investors continued to support local stock prices. Wealth Securities estimated that in the last four months, foreign investors have bought $756.59 million worth of equities. Net foreign buying for April alone was estimated at $363.49 million, Wealth estimated.


Recently, positive news on the gaming sector has likewise aided the index.


Next resistance level for the PSEi is seen at 6,830 while a strong support is seen at 6,600 level. Doris C. Dumlao



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Tags: Business , stocks



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