(Last Updated On: November 8, 2021)
The Philippine Stock exchange Blue chip index managed to close again by 0.76% as news with better than expected GDP growth. Philippine second quarter GDP growth was higher than initially reported. The economy grew by 12%, faster than the 11.8% estimated previously, the Philippine Statistics. In addition the countries covid cases is staying at controlled levels where Alert level 2 for Metro Manila is sustainable.
The index close at 7,396.22 with a net foreign buying of 908.4 Million, second consecutive trading days with high net foreign buying.
The Blue chips stocks were lifted by reversal in direction for Converge ICT (6.02%) and continue up movement of Bloomberrry (4.13%). The decliner is led by Wilcon (-3.52%)
On the index sector the Finance managed to beat the market movement and closed at 2.23%.