Philippine shares close higher due to bargain hunting

Philippine share prices closed higher on Thursday due to bargain-hunting for recently battered stocks.

The PSEi gained 64.02 points or 0.98% to 6,630.85, while the All Shares index increased by 1.02% to 4,005.09.

Market players took advantage of lower stock prices, but trading volumes declined as investors adopted a 'wait-and-see' approach.

Analysts noted that hopes for an improvement in the pandemic situation could boost investor sentiment and stabilize the market in coming weeks.