Manila Bulletin

Lo­cal shares slightly higher

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Lo­cal shares closed slightly higher yesterday as traders await the closely-an­tic­i­pated out­come of the US Fed­eral Re­serve meet­ing on in­ter­est rates. The bench­mark Philip­pine Stock Ex­change in­dex (PSEi) fin­ished 30.07 points or 0.42 higher at 7,123.99 on mod­er­ate vol­ume. A to­tal of 1.66 bil­lion shares val­ued at 6.7 bil­lion was traded. Gain­ers topped losers, 114-62, with 37 is­sues un­changed. Mean­while, Asian stock traders re­mained broadly op­ti­mistic lead­ing up to Thurs­day’s cru­cial US in­ter­est rate de­ci­sion, with most stock mar­kets and higher risk as­sets ex­tend­ing re­cent gains as part of another global rally. On Thurs­day Tokyo ended 1.43 per­cent higher while Syd­ney tacked on al­most one per­cent. Seoul, Welling­ton and Taipei also ended strongly. How­ever, Shang­hai closed down 2.10 per­cent – it surged al­most five per­cent Wed­nes­day af­ter los­ing around six per­cent in the pre­vi­ous two ses­sions – and Hong Kong was 0.86 per­cent lower in late trade.

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