Philippine stock market sustains rally

07/1/2013 | (China)

Bargain hunters gave the Philippine stock market a big lift Monday, marking the fourth day of gains after a recent downturn as foreign investors exited. The Philippine Stock Exchange index gained 0.95%, closing at 6,526.62. While encouraging, the outlook for further gains is considered uncertain, although the sustained rally might continue to draw investors "on the prowl for bargains that were opened," said Justino Calaycay, an analyst with Accord Capital Equities.

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