PHILIPPINE shares recovered from intra-day losses to close the week in positive territory as the market benefitted from window dressing to shore up portfolios for the first half of the year.
The bellwether index closed up 0.71 percent or 55.10 points at 7,843.16. The broader All Shares inched up 0.63 percent or 29.38 points at 4,692.03.
“Philippine markets closed on a positive note this Friday and at the end of the first half of 2017 in the much anticipated window dressing session,” Regina Capital Corp. Managing Director Luis Limlingan said.
IB Gimenez Securities research head Joylin Telagen noted there was buying in the afternoon session that moved the PSEi higher.
The sectoral indices were mixed, led by Holding Firms (+1.03 percent), Property (+0.99 percent), Financials (+0.48 percent), and Industrials (+0.05 percent).
Over 2 billion shares valued at P9.9 billion were traded.
Losers outnumbered gainers, 118 to 98, while 38 issues were unchanged.