Bargain Hunt Breaks PSEi Losing Streak

Bargain hunt breaks PSEi losing streak

MANILA, Philippines — The local bourse snapped its five-session losing streak on Wednesday as traders looking for cheap stocks went on a shopping spree. By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) gained 0.63 percent, or 40.02 points, to 6,375.35. Likewise, the broader All Shares Index added 0.47 percent, or 17.37 points,

PSEi bounces after 5 days of decline

The local equities market finally bounced after a five-day correction as investors began to pick up cheaper stocks.The main index added 40.02 points or 0.63 points to close at 6,375.35 led by the jump in the Mining sector on the back of higher gold prices. Volume was relatively stable at 712 million shares worth P7.63 billion as gainers outnumbered losers 107 to 81 with 52 unchanged.“Philippine shares booked modest growth on Wednesday despite a …