SHARE prices rebounded on Tuesday, the first trading day of the week, as the market went on window dressing.
The bellwether PSEi closed up 0.80 percent or 62.20 points to finish at 7,876.37. The wider All Shares climbed 0.54 percent or 25.18 points to 4,704.47.
“Philippine markets started their window dressing to kick of the last trading week of the first half, capitalizing on US equities surging on opening,” Regina Capital Corp. Managing Director Luis Limlingan said.
US shares were mixed as a rise in the financial sector offset losses from large cap technology stocks.
Likewise, Limlingan said several events would be on the spotlight this week, including the durable goods report, the revised first quarter gross domestic product and the personal income and spending report.
Over 2 billion shares, valued at P9.16 billion, were traded. Decliners outnumbered advancers, 103 to 94, while 50 issues were unchanged.
Among the most actively traded issues, SSI Group Inc. surged 8.06 percent and Metro Retail Stores Group Inc. climed 5.87 percent. Bloomberry Resorts Corp dropped 5.22 percent, and Melco Resorts and Entertainment (Philippines) Corp. fell by 4.69 percent.