PSEi ends week 21.52 points up but investors still on the sidelines

Transactions late in the afternoon session at the Philippine Stock Exchange (PSE) involving four blue chips arrested the three-day decline of the PSE index and lifted it to close the week 21.52 points up to 5,210.89.   Some 860 million issues were traded at P4.206 billion aggregate. Advances lead declines 85 over 69, with 40 issues unchanged. Jovis Vistan, senior analyst at AB Capital Securities Inc., said fund managers took advantage of low prices in the down market and may have had to buy shares at the close.   “Most probably there were orders that needed to be filled for their clients,” Vistan said. The market is in a “neutral mood (and) seems undecided as to where it should go,” he said.   The market went up just before the close at 3:20 p.m. on a buy-up of shares of Banco De Oro, Meralco, Metrobank and Ayala Land Inc., said Stephanie Yu of First Metro Securities Brokerage Corp.   SM Prime Holdings, Bank of the Philippine Islands, BDO Unibank Inc. and International Container Services Inc. were the main drivers of the market Friday, but activity was light. “Investors are waiting on the sidelines,” Yu added. — ELR, GMA News