MANILA, Philippines–The local stock barometer surged to a new high for the year on Tuesday, firming up above 7,000, on follow-through buying related to the MSCI rebalancing alongside a favorable regional backdrop.
The Philippine Stock Exchange index racked up 55.17 points or 0.79 percent to close at 7,082.75, setting a new peak for 2014. Across the region, markets were mostly higher due to the favorable US housing data and easing geopolitical tension in Ukraine.
All counters were up but the biggest gainer was the mining/oil counter, which advanced by 1.17 percent.
Value turnover for the day amounted to P13.26 billion. …read more
Source: The Philippine Daily Inquirer
