Philippine stocks rose for sixth trading day

Philippines stocks extended their gains to sixth straight trading day on continued bargain hunting and foreign buying.

The Philippine Stock Exchange index climbed 24.28 points, or 0.38 percent. to close at 6,398.96, while the broader all-shares index rose 6.26 points, or 0.18 percent, to settle at 3,419.14.

“Investors seemed to continue with their hunt for bargains with hopes pinned on the resilience of the corporate sector amid the lingering economic headwinds,” Philstocks Financial Inc. research analyst Claire Alviar said.

Value turnover reached P4.4 billion, with foreign investors turning into net buyers of P194 million.