Japan reactor progress buoys PSE index

The Philippine Stock Exchange index (PSEi) ended higher on Monday after the earthquake- and tsunami-devastated Japan made progress in tackling its nuclear crisis. “The improving expectation on how Japan handles its predicaments resurrected the market [on Monday]," said Freya Natividad, an investment analyst of 2TradeAsia.com. The PSEi gained 4.43 points or 0.12 percent to close at 3,844.31, according to the PSE’s online market information as of 12:10 p.m. More than 957 million shares worth P4.109 billion changed hands. There were 63 decliners, 58 advancers, and 41 issues that did not change. Global events and developments will continue to shape movements of the bourse, according to AB Capital Securities Inc. “How well Japan is able to contain its problems with its nuclear power plants will have a significant effect on the direction the market takes [this week]," AB Capital said. — JE, GMA News