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MANILA, Philippines – Local stocks rebounded on Thursday as bargain hunters returned after two straight sessions of decline, while trading remained subdued amid lingering concerns over domestic and global risks.
The benchmark Philippine Stock Exchange Index (PSEi) climbed 1.15 percent or 68.25 points, to close at 6,015.03.
READ: Philippines: Economic growth at five-year low due to Mideast war
Brokerage Philstocks Financial Inc. said investors hunted for bargains after the market’s recent pullback, helping lift the local bourse back above the 6,000 level.
