PSEi continues rally, up 1.01%

Share prices on the Philippine Stock Exchange ended on a strong note Wednesday as investors continued their buying spree, further supporting the market’s rally.

The benchmark PSEi gained 71.06 points or 1.01% to 7,080.62 at the closing bell. The broader All Shares increased by 22.42 points or 0.53% to 4,222.09.

“The PSEi continued higher as it drew momentum from the big move that we saw in the previous session,” AAA Equities head of research Chris Mangun said.

“It started the day slightly lower but then a pick up in buying pressure pushed prices higher,” he said.

More than 3.902 billion shares valued at P8.802 billion, changed hands. Decliners led advancers, 116 to 108, and 39 issues were unchanged.

“We may start to see it move sideways in the coming trading sessions as enthusiasm wears off,” Mangun said. — BM, GMA News