Philippine Shares Close 0.7 Pct Higher
MANILA (AFP) - Philippine share prices closed 0.7 percent higher Friday, snapping a 4-day losing streak on late window-dressing for the end of the first quarter, dealers said.
The Philippine Stock Exchange composite index rose 15.31 points to 2,195.95, its high for the day. It touched a low of 2,178.75.
Volume reached 2.26 billion shares worth 3.49 billion pesos (68.29 million dollars.)
The broader all-shares index advanced 5.91 points to 1,071.01.
Gainers outnumbered losers 58 to 29, while 50 stocks ended unchanged.
The Philippine peso traded at 51.166 to the US dollar as of mid-day.
"Fund managers rushed to boost their portfolios that will be presented to clients at the end of the quarter," said James Lago of Westlink Global Equities Inc.
"Today's rise was primarily because of quarter-end window-dressing," he said.
Investors were also taking positions ahead of the changes in the composition of the 30-company composite index that will take effect on Monday. …