Philippine share prices closed 1.17 percent higher Friday, lifted by an extended technical rebound following the success of a huge government global bond issue, dealers said. They said profit-taking set in before the close of trade and was expected to continue next week as most share prices were already at overbought levels. The Philippine Stock Exchange composite index gained 23.22 points to 2,014.61 after trading between 1,991.39 and 2,023.66.
Volume was 5.48 billion shares worth 1.83 billion pesos (33.18 million dollars) from 5.72 billion shares worth 1.19 billion pesos on Thursday.
The broader all-shares index fell 4.77 points to 1,163.23.
Gainers beat losers 99 to 27, with 33 stocks unchanged.
Philippine Long Distance Telephone Co (PLDT) was the most actively traded stock, but it closed down 10 pesos at 1,430 pesos. San Miguel Corp B shares, available to foreign investors, was unchanged at 77.50 pesos while San Miguel A shares, limited to local investors, ended steady at 58 pesos.
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