Philippine stocks up 2.10% after huge losses

Philippine stocks rose 2.10 per cent Friday on bargain hunting after two days of huge losses over concerns the US Federal Reserve was reducing stimulus measures, dpa reported. The 30-share composite index of the Philippine Stock Exchange gained 128.18 points to finish at 6,242.26. More than 1 billion shares worth 10.86 billion pesos (253.74 million dollars) were traded. Advancers led decliners 111 to 50, while 41 issues were unchanged. The index had lost more than 9 per cent in the week as foreign investors fled Asian equities markets on fears prices would go down if the US cuts back on an 85-million-dollar bond-buying programme.