PSEi bounces back on Duterte economic plan

LOCAL share prices bounced back Friday, after JP Morgan said presumptive President Rodrigo Duterte’s economic agenda is an encouraging sign for financial markets, and traders responded positively to the central bank’s decision to maintain its key interest rates, as well as generally positive earnings reports from listed companies.

The benchmark Philippine Stock Exchange Index (PSEi) rose by 1.53 percent or 111.75 to close at 7,436, while the broader All Shares gained 1.32 percent or 57.31 points to end the trading week at 4,412.26.