PSEi up on US-China trade talk optimism

The Philippine Stock Exchange Index (PSEi) saw its performance influenced by developments in US-China trade talks.

On Monday, the PSEi closed at 6,406.13, up 0.46 percent, amid optimism about US-China trade negotiations.

By Wednesday, the index had added 0.53 percent, or 33.65 points, to close at 6,381.32, buoyed by ongoing trade talks between the US and China.

Analysts noted that the consensus reached in London on tariffs and the potential for a deal that avoids steep tariffs contributed to investor cheer.

Regina Capital Development Corp. head of sales Luis Limlingan stated that the ongoing talks may even extend on Wednesday (London time).

Bloomberry Resorts Corp. was among the top-traded stocks, gaining 1.05 percent following the soft launch of its online gaming platform, MegaFUNalo.

DigiPlus Interactive Corp. also saw gains, rallying by 6.38 percent, while BDO Unibank Inc. and Bank of the Philippine Islands experienced modest increases.