MANILA (Thomson Financial) - Philippine shares were higher in early deals
Wednesday with investors encouraged by Wall Street's rebound and a pullback in
oil prices.
At 0136 GMT, Manila's composite index rose 35.02 points or 1.4 percent to
2,485.57.
The broader all-share index gained 14.25 points or 0.9 percent at 1,564.59.
Crude prices tumbled $5.33 to settle at $136.04 a barrel on the New York
Mercantile Exchange, bringing oil's two-day drop to more than $9.
U.S. stocks rose on indications of more access to emergency funds for the
financial sector in speeches by Federal Reserve Chairman Ben Bernanke, Treasury
Secretary Henry Paulson and JPMorgan Chase & Co. Chief Executive Jamie Dimon,
easing concerns about the ailing credit market.
rocel.felix@thomsonreuters.com
.
rf/ms
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|