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Local Equities Consolidates

The local equities market consolidated at a tight range before ending the day almost flat, climbing only 12.50 points (+0.17%) to close at 7,344.23 due to the lack of market-moving news.

All PSEi sub-sectors ended the trading day higher with property (+0.57%) and mining and oil (+0.55%) booking the most gains. Market breadth was negative with 83 advances outnumbering 91 declines, while 56 issues remain unchanged.

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Taiwan Excellence Launches in the Philippines

The Taiwan government is bringing their Taiwan Excellence campaign to the Philippines. This is an effort by Taiwan to promote their top quality brands and products among Filipinos.

This is the first time that the campaign will be launched in the Philippines which will give Filipinos the opportunity to discover a range of Taiwanese products with the seal of quality.

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Local Equities Rebound

The local equities rebounded for the second straight day due to bargain hunting. The PSEi gained 86.19 points, or +1.22% to close at 7,154.22. Most indices ended in green led by the property (+2.48%) and financials (+2.17%) sectors.

Market breadth was positive with 111 advances outnumbering 67 declines, while 41 issues remained unchanged. Total value turnover reached Php3.31 billion. Foreign investors were net buyers at Php16.33 million.

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