PSEi rebounds on ECQ easing optimism

The Philippine Stock Exchange Index (PSEi) saw a rebound on Monday, May 11, 2020, with a gain of 0.82% to close at 5,667.93 points.

This positive movement was fueled by investor optimism regarding the potential easing of the enhanced community quarantine (ECQ) restrictions.

Investors were anticipating a decision from Malacañang on whether to lift or relax the lockdown measures, which were set to end on May 15.

Metro Manila and other high-risk areas have been under lockdown since March 17, with the ECQ already extended twice.

Trading volume was significant, with over 480 million shares valued at P4.54 billion changing hands, indicating a broad market participation.

The market sentiment was largely positive, with more issues advancing than declining, suggesting a prevailing optimistic outlook among traders.

Despite the optimism, some market participants remained uncertain about the government's final decision on the ECQ status after its expiration.