PSE index stays above 7,500-point level at market opening

The Philippine Stock Exchange on Monday opened on a positive note, staying above the 7,500-point level.
 

The benchmark PSEi traded 2.25 points or 0.03 percent higher at 7,505.97 as of 9:31 a.m. The All Shares index, meanwhile, rose 1.38 points or 0.03 percent to 4,315.62.
 

Nearly 40.8 million shares worth more than P229.9 million were traded so far, with 32 stocks advancing, 17 declining and 35 unchanged.
 

The market, however, will likely move sideways as investors await results of the US Federal Reserve meeting. 
 

"Market will remain quiet, following the last two consecutive days of rally. Investors are generally waiting on the sides," said Lexter Azurin, head of Unicapital Securities' equity research group.
 

The PSEi ended 119.45 points or 1.62 percent higher at 7,503.72, as the market closed the holiday-shortened week on June 11. 

 

Asian shares generally dipped 0.4 percent, based on MSCI's broadest index of Asia-Pacific shares and Japan's Nikkei stock index, as indebted Greece failed to close a deal with lenders, Reuters reported. —KG, GMA News