Philippine News Agency
Stocks rise anew, peso closes sideways
The Philippine Stock Exchange index (PSEi) rose by 2.86 percent, or 165.17 points, to 5,946.05, boosted by investor optimism over decreasing COVID-19 cases in some European countries.
The Financials sector led the gains, with Mining and Oil, Holding Firms, Property, Services, and Industrial sectors also increasing.
Trading volume was robust, with 911.54 million shares valued at PHP9.1 billion exchanged, and advancers outnumbered decliners.
Market observers noted that the PSEi's attempt to reclaim the 6,000-point level was influenced by the overnight rally in US equities.
US economic adviser Larry Kudlow stated that President Donald Trump would make important announcements regarding the re-opening of the US economy.
Federal Reserve Bank of St. Louis President James Bullard expressed optimism for a 'V-shaped' US economic recovery in the second half of the year.
Despite positive sentiment, the International Monetary Fund projects a sharp global recession due to COVID-19, forecasting a -3 percent global growth for the year.
Topics in this story
Explore more stories about these topics.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Philippine shares continued their rally on Wednesday, with the PSEi increasing by 165.17 points, or 2.86%, to close at 5,946.05.
Read more →
The Philippine peso ended almost unchanged against the US dollar on Wednesday, closing at 50.8 to the greenback.
Read more →
The Philippine Stock Exchange index (PSEi) dropped by 7.07% on Thursday, ending a three-day winning streak due to profit-taking and concerns over the economic impact of COVID-19.
Read more →
The Securities and Exchange Commission (SEC) is confident that the Philippine capital market will make a strong recovery from the impact of the COVID-19 pandemic, citing continued strong support from the investing public.
Read more →
The Philippine peso is expected to weaken further this week due to the ongoing impact of the coronavirus (COVID-19) and uncertainty surrounding the lockdown in Luzon.
Read more →