Bargain hunting lifts PH shares after two-day decline

MANILA -The Philippine Stock Exchange index (PSEi) saw a turnaround on Wednesday after ending in the red for two consecutive days, thanks to bargain hunters who provided the bourse some relief.

The benchmark PSEi climbed by 0.19 percent, or 12.39 points, to close at 6,615.95 while the All-Shares index slid 0.06 percent, or 2.06 points, to finish at 3,525.36.

“The local bourse traded sideways with a downward bias in the session then last-minute bargain hunters saved the index in the red,” Claire Alviar, Philstocks Financial Inc. assistant manager for research and online engagement, said.

“Investors also took advantage of the two consecutive [days of] market decline,” she added.
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