By Leslie D. Venzon
MANILA, Sept.14 (PNA) — Share prices breached the 7,000-level anew on Monday, as investors continued buying into the market amid expectations the United States Federal Reserve may maintain status quo on interest rate.
The benchmark Philippine Stock Exchange index (PSEi) surged 157.80 points to 7,069.18 from Friday’s 6,911.38 finish.
Brokerage firm 2TradeAsia.com said growing expectation the Fed might support another status quo on its interest rate prodded positioners to buy on equities.
All the sectoral indices posted significant improvements, led by holding firms and property that advanced 2.63 percent and 2.65 percent.
Volume of transactions reached 2.82 billion shares valued at Php5.18 billion.
Advancers outnumbered decliners, 101 to 64, while 37 issues were unchanged.
The day’s top active stocks were led by Ayala Land Inc., SM Prime Holdings Inc., BDO Unibank Inc., Ayala Corp. and Universal Robina Corp. (PNA)