PHL stocks end nine-day losing streak

By Leslie D. Venzon

MANILA, Nov. 17 (PNA) — The local stock market ended a nine-day losing streak on Tuesday as it tracked a rally in the United States and Asian bourses ahead of the two-day Asia-Pacific Economic Cooperation (APEC) Summit break.

The Philippine Stock Exchange index (PSEi) advanced 52.46 points to 6,825.38 from previous day’s 6,772.92 close.

”Investors moved-on from the temporary shock caused by the Paris terror attack,” said Ralph Christian Bodollo, equity research analyst at RCBC Securities Inc.

A series of coordinated terror attacks on Paris killed at least 129 people on Friday night.

All counters were in positive territory, led by mining and oil and financials sectors.

The local bourse ended higher on thin volume reaching 601.92 million valued at Php6.11 billion.

Market breadth turned positive with advancers dominating decliners, 119 to 48, while 44 issues unchanged. (PNA)