Stock market bulls achieved an elusive win on Thursday after the Philippine benchmark index (PSEi) soared over 100 points to its highest close in more than a month after new inflation data in the United States showed further signs of cooling.
The rally on Thursday saw an increase in trading activity while foreign buying was sustained from the previous session.
Ravelas still expects the PSEi to remain range bound until bulls successfully reclaim the 6,700 level. Colet said 6,750 was the decisive area for bulls to conquer for a successful range breakout to the upside.
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