Improving factory output spurs PSEi rally

A better manufacturing growth report prompted investors to buy up shares, allowing the Philippine Stock Exchange index (PSEi) to end in the green on Friday. The benchmark PSEi climbed by 1.58 percent, or 104.37 points, to close at 6,692.65 while the wider All-Shares index rose 1.44 percent, or 50.49 points, to settle at 3,548.53. Claire Alviar, Philstocks Financial Inc. assistant manager for research and online engagement, said the PSEi managed to return above 6,600 after the S&P Global Market Intelligence reported that the Philippines' purchasing managers' index (PMI) improved to 51.2 in August from 50.8 in July. PMI is a gauge of manufacturing growth. An above-50 reading s...

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