PSEI GAINS 1.78% IN THIN TRADE

The local stock barometer rebounded in thin trade yesterday as domestic players made up for sluggish foreign investor appetite.

The main-share Philippine Stock Exchange index (PSEi) recouped 133.09 points or 1.78 percent to close at 7,630.26.

Elsewhere in the region, trading sentiment was mixed amid trade war tensions.

For the week, the PSEi shed 17.25 points or 0.2 percent.

Investors for now are still seen trading between the range of 7,500 and 7,800.

On Wednesday and Thursday, the PSEi fell below the critical 7,500 level, followed by Friday’s bounce.

The PSEi’s gain was led by holding firms, which rose by 3.19 percent, while the financial counter also increased by 1.24 percent.

The industrial and property counters also firmed up.

On the other hand, the services and mining/oil counters declined.

Value turnover for the day was thin at P5.56 billion.

There were 101 advancers that edged out 89 decliners while 46 stocks were unchanged.

Investors picked up share of AEV, which surged by 9 percent. BPI and SM Investments both gained over 4 percent.

Jollibee, Metro Pacific and Meralco all added more than 3 percent, while Ayala Corp. rose by more than 2 percent.

Ayala Land and JG Summit increased by more than 1 percent, while Metrobank, BDO, URC, Megaworld and GT Capital also firmed up.

On the other hand, ICTSI fell by 1.36 percent while Security Bank lost 0.51 percent.

One notable decliner outside the PSEi was Bloomberry, which slipped by 4.07 percent.