Bourse closes higher following movement of US equities
MANILA, Philippines (Xinhua) - Philippine shares closed Monday's session higher, mimicking mostly the movement of the US equities.
The benchmark Philippine Stock Exchange index went up by 22.11 points to 7,840.49, while the all-share index rose by 8.47 points, or 0.19 percent, to 4,537.78.
Trading volume reached 1.02 billion shares worth P8.83 billion ($196.96 million).
There were 91 gainers, 81 losers while 51 stocks closed flat.
Online brokerage 2TradeAsia.com said investors took their cue from the 168-point gain of the Dow Jones industrial average index.
"This is in hope more corporate participants would accelerate on expansion effects prior to the U.S. Federal Reserve's rate hike in June," 2TradeAsia.com said.
Stocks in the 30-company index closed mixed. Investors sold down heavyweight Philippine Long Distance Telephone Co. and Ayala Corp., but picked up shares of Metropolitan Bank and Trust Co.
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