By Arra B. Francia, Senior Reporter

SHARES continued to move higher on Friday albeit on thin trading, as investors waited for new catalysts that could boost the stock market.

The bellweather Philippine Stock Exchange index (PSEi) firmed up 0.3% or 24.12 points to close at 7,983.98 yesterday, managing to end with gains despite sluggish trading for most of the day.

The broader all shares index also increased 0.12% or 5.92 points to 4,890.79.

“It was a dull day for the PSEi as the index ended flat on a lack of catalysts. The PSEi closed 24.12 points up at 7,983.98, but only following a sharp recovery late in the afternoon,” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an email.

Meanwhile, Regina Capital Development Corp. Head of Sales Luis A. Limlingan cited lingering concerns on the US-China trade war.

“With Hong Kong and China closed for holiday, and the trade wars are still a lingering concern, local shares traded slightly above to end the first trading week of June,” Mr. Limlingan said in a mobile phone message.

The PSEi mirrored the positive close of international markets, which mostly gained due to reports the US President Donald J. Trump may postpone tariff hikes in China until after the G20 meeting in Osaka on June 28 to 30.

The Dow Jones Industrial Average advanced 0.71% or 181.09 points to 25,720.66. The S&P 500 index was up 0.61% or 17.34 points to 2,843.49, while the Nasdaq Composite index increased 0.53% or 40.08 points to 7,615.56.

Sectoral indices were equally split between advancers and decliners locally. Those on positive territory included financials, which jumped 0.82% or 14.09 points to 1,736.83. Services rose 0.37% or 6.21 points to 1,670.68, while holding firms added 0.25% or 19.37 points to 7,645.15.

Meanwhile, mining and oil fell 0.55% or 40.48 points to 7,296.45. Industrial dropped 0.12% or 13.96 points to 11,554.03, while property slipped 0.05% or 2.34 points to 4,333.66.

Some 801.2 million issues changed hands valued at P4.24 billion, much lower than the previous session’s P7.34 billion.

Gainers trumped losers, 103 to 86, while 48 names were unchanged.

Foreign investors were net sellers for the third straight session at P573.32 million, higher than Thursday’s P425.29 million.

The list of 20 most actively traded stocks showed 11 gainers, including SSI Group, Inc. (3.85%), BDO Unibank, Inc. (up 1.3%), JG Summit Holdings, Inc. (up 1.2%), International Container Terminal Services, Inc. (up 1.1%), and Filinvest Land, Inc. (up 1.12%).

The eight losers included Manila Water Company, Inc. (down 3.91%), Globe Telecom Inc. (down 1.5%), and Megaworld Corp. (down 1.3%).

One stock, PLDT, Inc., was unchanged in the same list.

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