Manila Bulletin
Stocks surge for third day
The Philippine Stock Exchange index (PSEi) surged for the third straight session, gaining 2.09 percent or 153.66 points to close at 7,506.51.
All sectors advanced, with Property leading the gains.
Encouraging news regarding the novel coronavirus pandemic and the potential for an earlier-than-expected vaccine availability fueled the rally.
Trading volume was lower than the previous day but still above the recent norm, with 6.22 billion shares valued at ₱7.04 billion transacted.
Gainers outnumbered losers, with 115 stocks advancing compared to 70 declining and 46 remaining unchanged.
Market sentiment was also influenced by the stabilization of new COVID-19 cases and anticipation of a BSP meeting, according to Luis Limlingan of Regina Capital Development Corporation.
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