Bargain-hunting lifts PSEi 1.13% in morning trade

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SHARE prices rebounded in early trading on Thursday as investors went bargain-hunting after three straight sessions of being in the red.

The bellwether index grew 1.13 percent or 89.18 points to 7,998.25. The broader All Shares rose 0.96 percent or 45.80 points to 4,834.86.

“This is a technical bounce after several days of run-up. Several investors opted to bargain-hunt given that the PSE (Philippine Stock Exchange) is already at an attractive level,” First Grade Finance, Inc. Managing Director Astro del Castillo said.

“Almost all markets are also up as concerns overseas dissipate. This gave an opportunity for investors, for bargain-hunters to enter,” he added.


All sectoral indices were in the green, led by property, up 2.01 percent. ANGELICA BALLESTEROS

 

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