Bargain hunting helps stocks snap five-day losing streak

February 4, 2025 | 12:00am

MANILA, Philippines — Share prices recovered following last week’s successive losses as investors took advantage of bargain stocks.

The Philippine Stock Exchange index snapped a five-day losing streak yesterday, inching up by 0.35 percent or 20.45 points to close at 5,883.04.

The broader All Shares index also ended in the win column, increasing by 0.41 percent or 14.29 points to 3,534.61.

“Monday’s action is deemed as a technical bounce with investors hunting for bargains following a five-day decline,” Philstocks Financial research manager Japhet Tantiangco said.

“The S&P Global Philippines Manufacturing PMI for January which posted an expansion at 52.3 also helped in Monday’s climb,” he said.

Net value turnover started the week strong at P9.54 billion.

Foreigners were net buyers with net inflows at P695.09 million.

All sectors were in the green, except for services which slipped by 0.95 percent.

The property index led the rally, rising by 1.79 percent, followed by industrial which expanded by 0.67 percent.

However, market breadth remained negative as decliners squashed advancers, 131 to 81, while 30 issues were unchanged.

China Banking Corp. was the session’s most actively traded stock, finishing flat at P93 per share, followed by Ayala Land Inc. which rose by 7.62 percent to P24.

Among index members, Alliance Global Group posted the largest gain at 15 percent, while Emperador lost the most at 6.86 percent.