MANILA, Philippines — Last minute buying from foreign investors perked up the market, according to 2TradeAsia. Market investors may have also been encouraged by the 4.4 percent increase in remittances in January. Thus, the Philippine Stock Exchange index (PSEI) finished higher by 47 points to close at 7,798.28, while net foreign buying surged to P1.8 billion. Week-on-week, the local market inched up 1.17 points or 0.02 percent. “Last minute bargain hunting backed by 4.4 percent increase in January remittances pushed the local market higher on the last trading day of the week,” according to Philstocks Financials.

Source: Philippine Star March 15, 2019 16:01 UTC