Philippine share prices hit a fresh 29-month high on Thursday following the overnight rally in Wall Street that was driven by bullish earnings forecasts.
At the Philippine Stock Exchange, the local composite index rose 48.08 points, or 1.44 percent to 3,398.16–its highest since January 15, 2008 when it closed at 3,447.29.
The broader all-shares index went up 23.85 points, or 1.12 percent to 2,148, with only the mining and oil indices slipping by 0.38 percent.
Market breadth was positive as gainers beat decliners, 60 to 32, while 71 issues were unchanged. A total of 1.43 billion stocks worth P3.99 billion changed hands.
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