PSEi rises ahead of earnings season

SHARE prices advanced on Friday with investors said to be positioning ahead of the release of annual earnings reports.

The bellwether Philippine Stock Exchange index (PSEi) rose 1.08 percent or 95.18 points to close at 8,915.92. The wider All Shares grew 0.69 percent or 35.20 point

“The market is just marking time. Everything is in place, just waiting for the positive develop the companies listed,” Summit Securities, Inc. President Harry Liu said.

He added investors were likely loading their portfolios following reports of corporate expansion plans.

Listed firms are expected to start reporting full- year results next month.

A Regina Capital Development Corp. analyst, meanwhile, said the

local market climbed on the back of China’s encouraging growth.

The Chinese economy grew by 6.9 percent in 2017, accelerating

The services and property sectors were the only sub-indices to decline on Friday.

More than 914 million issues valued at P10 billion changed hands.

Losers led winners, 127 to 105, while 54 were unchanged.