Share prices bounced back on the Philippine Stock Exchange Wednesday, lifting the benchmark PSEi back to the 6,800-point level as investors positioned for the new year.
As of 3:20 p.m., the PSEi was up 2.54 percent or 169.31 points at 6,827.51. The wider All Shares showed a 1.79 percent gain, or 72.87 points, at 4,143.47.
Online brokerage 2TradeAsia expects the market “to continue to post gains, but on a modest note as thin volume is still likely to ensue.”
In a market note, the brokerage said it sees more window-dressing in the next couple of days in the run-up to the end of the trading year on December 29, Thursday.
“We may see some window-dressing until the last trading session of this year in preparation for 2017,” 2TradeAsia said.