Philippine stock market ends year in positive

Local equities on the last trading session for the year increased its third time for the week as the Philippine benchmark stock index undergo short-term to medium-term rally.

The Philippine Stock Exchange index (PSEi) was raised by 0.20 percent, or 11.51 points to 5,889.83, while the all-shares index went up by 0.33 percent, or 11.79 points to 3,614.31. Harry Liu, president of Summit Securities Inc., said in a text message that the market increase was because of short- to medium-term index rally, and that long term to next year will further improve.