Philippine News Agency
Stocks rally anew, peso sideways vs. USD
The Philippine Stock Exchange index (PSEi) rallied for a third consecutive day on Thursday, gaining 7.44 percent to close at 5,401.58 points.
All other indices also saw gains, with Property and Financials surging the most.
Investor sentiment remained positive despite uncertainties on when US lawmakers would approve the proposed USD2 trillion coronavirus stimulus measure, though a vote was expected within the week.
The US Senate passed the stimulus package late Wednesday, with the House of Representatives scheduled to vote on it Friday.
In local currency news, the peso ended the day sideways against the US dollar at 51.07.
Trading volume for the peso decreased to USD420.1 million.
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The Philippine Stock Exchange index (PSEi) rose for the second consecutive day on Wednesday, closing at 5,408.52 points.
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The Philippine Stock Exchange index (PSEi) surged by 7.44 percent, closing at 5,401.58 points, driven by optimism surrounding the passage of a massive US$2 trillion stimulus package aimed at mitigating the economic impact of the coronavirus pandemic.
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The Philippine peso ended Thursday sideways against the US dollar, closing at 51.1.
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The Philippine peso and the stock market recovered towards the end of the week due to bargain hunting amid COVID-19 fears.
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