PSEi rallies to 7,300 level, but market still seen technically weak

The local stock barometer rallied to the 7,300 level yesterday on the back of some foreign inflows amid expectations that the market may have found the bottom. Gaining for the fourth straight session albeit still on thin trade, the main-share Philippine Stock Exchange index (PSEi) racked up 81.08 points or 1.12 percent to close at 7,348.42. Joseph Roxas, president of Eagle Equities Inc., said the market was becoming numb to the string of bad news, which meant that a big rally may be starting. It's possible that the market had found a bottom, Roxas said. "Some local money is coming back because there is good value out there," said BDO Unibank chief strategist Jonathan Ravelas....

Keep on reading: PSEi rallies to 7,300 level, but market still seen technically weak

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