Stocks slightly up in subdued reaction

The local stock market’s reaction yesterday to the decision of the US Federal Reserve’s decision to keep interest rates steady was subdued. The benchmark Philippine Stock Exchange index (PSEi) finished just 7.92 points or 0.11 percent higher at 7,131.91. Trading volume improved with 1.34 billion shares, valued at 10 billion, changing hands. Gainers outnumbered loser, 10080, with 33 issues unchanged. James Lago, research head at PCCI Securities Brokers, said the overnight weakness in the dollar and follow-through buying from the stock market’s gains in recent days should also sustain the increase in share prices.