051507: Net foreign buying in stock market up 73.2% in Jan-Apr

May 15, 2007
Updated 10:54:01 (Mla time)

Xinhua Financial News Service

MANILA, Philippines -- Net foreign buying at the Philippine Stock Exchange (PSE) jumped to P33.76 billion in the first four months of the year, 73.2 percent more than the P19.49 billion-worth of net purchases in the corresponding period of last year, the bourse said.

PSE president Francis Lim said in a written statement that the increasing presence of foreign investors in the market here had helped boost stock prices.

The 30-company composite index had risen by 9.7 percent to 3,270.73 points at the end of April from 2,982.54 at the end of last year. Last Friday, the main index was 12.8 percent higher than at the start of the year.

PSE data show that the average daily value turnover from January to April rose to P4.7 billion, 154.6 percent more than the average daily value turnover of P1.85 billion in the equivalent period of last year.

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