PSEI seeks to sustain positive momentum

The local stock market is betting on one final run as the year draws to a close, hoping that the momentum from last week’s rate cuts delivered by the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) will be carried over this week.

- By RICHMOND MERCURIO

The benchmark 30-company Philippine Stock Exchange index (PSEi) finished strongly last Friday at 6,036.72, gaining by 1.47 percent week-on-week.

2TradeAsia.com said the local bourse reclaimed the crucial 6,000 level as investors cheered the double rate cut catalyst from both the BSP and the Fed.

This week, the online brokerage said holiday liquidity may lift sentiment.