Philippine share prices climbed 2.66 per cent
Friday, buoyed by overnight gains on Wall Street and hopes of a new massive
stimulus package in the United States, dpa
reported.
The 30-share composite index of the Philippine Stock Exchange
gained 50.41 points to close at 1,942.48.
Turnover was up at 1.16 billion shares worth 2.67 billion
pesos (56.80 million dollars).
Gainers led losers 66 to 23 while 40 issues were unchanged.
Traders said the upbeat mood was triggered by optimism that
the US stimulus plan worth 920 billion dollars would soon win approval from
lawmakers.
Local investors also cheered the more than 100-point increase
in the Dow Jones Industrial Average on Thursday and continued rallies in
regional markets.
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