Foreign buying boosts shares

June 1, 2017

Stocks rose on Thursday, supported by foreign buying. The Philippine Stock Exchange Index closed 90.37 points higher to 7,927.49 points. In the broader market, there were 127 gainers, 82 decliners and 49 remaining unchanged. Volume reached 1.49 billion shares worth P10.95 billion. Foreigners bought P5.72 billion worth of shares while selling P5.53 billion. Gainers were led by Waterfront Philippines Inc, up 17.24 percent to P1.02, Philippine Seven Corp. up 10.39 percent to P168.90 and Ayala Land Inc, up 2.92 percent to P40.55. The peso closed at P49.75 from P49.765 on Wednesday as volume decreased to $325.8 million from $500.6 million. DMS