RP stocks post gains on Wall Street rally

Share prices on the Philippine Stock Exchange rose in moderate trading Thursday, buoyed by the upbeat sentiment across Asia after Wednesday’s rally in the US market. The main PSE index gained 48.08 points or 1.43 percent to close at 3.398.16. More than 1.43 billion shares worth P3.98 billion changed hands in the session. Of 163 issues traded Thursday, 60 posted gains, 32 decline, and 71 were unchanged. Asian markets rose were upbeat Thursday as investors on Wall Street shopped for bargains and bought stocks that suffered from days of selling, the Associated Press reported. The Dow Jones industrial average gained 274.66 points, or 2.8 percent, to 10,018.28 on Wednesday. State Street, a US bank, came up with a positive profit forecast that supported financial stocks and eased worries about the upcoming quarterly earnings reports. -VS, GMANews.TV