MANILA, Nov. 18 (PNA) — Local share prices extended their winning streak for a third day on Tuesday as foreign investors continue to pour in funds into the stock market.
The barometer Philippine Stock Exchange index (PSEi) increased 45.94 points to 7,275.66 from previous day’s 7,229.72 close.
Online brokerage firm 2TradeAsia.com said sustained foreign buying buoyed sentiment despite the regional pullback owing to Japan’s third-quarter gross domestic product (GDP).
It attributed part of the momentum to liberalized bank ownership and nascent push to reform the mining sector’s tax scheme.
All counters were in positive territory, except the industrial sector that declined slightly.
A total of 2.26 billion shares valued at Php8.01 billion were traded.
Market breadth was negative with decliners dominating advancers, 88 to 78, while 53 issues unchanged.
The day’s top gainers were led by Jackstones Inc., Unioil Resources & Holdings Company Inc., Southeast Asia Cement Holdings Inc., iRipple Inc. and Medco Holdings Inc. (PNA)