PH stocks attract throng of foreign buyers after peso shows vigor

Foreign investors helped extend the local stock market’s gains on Thursday following the peso’s comeback.

The benchmark Philippine Stock Exchange index (PSEi) inched up by 0.31 percent, or 20.19 points, to close at 6,530.51 while the wider All Shares index rose by 0.18 percent, or 6.28 points, to end at 3,422.04.

“Foreign funds … helped in the gains with foreign transactions registering a net inflow of P5.51 billion. This comes amid the peso’s strengthening,” Philstocks Financial Inc. senior research analyst Japhet Louis Tantiangco said.

On Wednesday, the peso closed at 56.94 against the greenback, its strongest level in over two months. The local currency gained further stren…

Keep on reading: PH stocks attract throng of foreign buyers after peso shows vigor