MANILA, July 18 (Xinhua) -- The Philippine stock market kept its upward momentum on Tuesday.
The bellwether Philippine Stock Exchange index bounced back and rose by 0.23 percent or 18.42 points to 7,952.92, while the broader all-share index was up by 0.06 percent or 2.67 points to 4,755.68.
Trading volume reached 3.95 billion shares worth 6.49 billion Philippine pesos (128.18 million U.S. dollars) with 104 stocks advancing, 94 declining, and 57 were unchanged.
Of all the six counters, only the services sector bucked the trend.
"Politics and governance issues have been taking the back-seat. This is obviously good for the market as proven by its ability to hold double digit year to date gains even as it seems to meet stiff resistance at the 8,000-mark," analyst Justino Calaycay of Philstocks, Inc. said in his daily stock market comment.
The Asian market finished mixed but the majority incurred losses. Only Singapore and Manila closed on a positive note.
Oil prices closed higher while the Philippine peso lost ground against the U.S. dollar.
Stocks in the 30-company index finished mixed. These include shares of Metro Pacific Investments Corporation, LT Group Inc., and GT Capital Holdings, Inc. Enditem
