Index up following 6.3% GDP growth

The local bourse on Thursday rose by 14.10 points, or 0.22 percent, to close at 6,549.27 as the economy expanded by the second quarter of the year, at 6.3 percent.

The latest data is faster than the first quarter’s 5.8 percent rate.

Sectoral indices were mixed, with Services gaining the most by 0.89 percent, followed by Industrials, up by 0.82 percent, and Holding Firms by 0.42 percent.

Meanwhile, Properties led the red territory, dropping the biggest by 0.60 percent.

Viet gets pole position

“Compared to other Southeast Asian countries, the country lags just behind Vietnam’s 6.9 percent while overtaking traditional powerhouses such as China, Indonesia, and Malaysia,” Regina Capital Development Corp. head of sales Luis Limlingan said.

US equities, on the other hand, slipped on Wednesday, he added, as investors were on edge due to economic concerns, geopolitical conflicts, and the looming poll in November.

The net market value turnover was P3.7 billion.

One hundred six Advancers outweighed 81 Decliners, with 41 names unchanged.

The peso closed at P57.31 from a dollar.