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PSEi rises to 6,400 level to mark best finish since June
The Philippine Stock Exchange index (PSEi) closed at 6,484.06 on Friday, extending its winning streak to five consecutive sessions and reaching its best finish since June.
The PSEi surged 139.43 points or 2.19%, with investor optimism driven by eased mobility restrictions and a decline in new coronavirus cases.
The Department of Health has been reporting less than 2,000 new COVID-19 cases daily since Tuesday, bolstering investor sentiment.
Corporate earnings also contributed to the positive sentiment, with Universal Robina Corp. reporting third quarter earnings growth.
Analysts suggest that while a short-term bull run is possible, a complete market reversal is not yet certain due to pandemic uncertainties.
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The Philippine Stock Exchange index (PSEi) climbed for the third consecutive day, closing Friday at 6,484.06 points, a 2.20 percent or 139.43 point gain, driven by continued market optimism.
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The Philippine Stock Exchange index (PSEi) rose for the fourth consecutive day, increasing by 1.05 percent, or 66.04 points, to close at 6,344.63 points on Thursday.
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The Philippine Stock Exchange index (PSEi) fell by 2.01% to 6,249.39 points on Thursday, October 29, 2020, due to sell-offs ahead of the US presidential elections, rising COVID-19 cases overseas, and the impact of successive typhoons.
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