Philippine shares end below 6,000 amid pandemic worries

Philippine shares closed below the 6,000 level on Thursday due to concerns over rising COVID-19 cases and unclear government quarantine measures.

The PSEi dropped 37.82 points or 0.63% to close at 5,928.45, ending a two-day climb.

On Tuesday, the index rebounded slightly but failed to reach 6,000 due to lack of clarity in the government's COVID-19 recovery plan presented during Duterte’s State of the Nation Address.

Investors were disappointed by the absence of detailed economic measures and concerns over potential stricter quarantine rules if cases exceed 85,000.