Philippine stocks end higher on vaccine optimism

Philippine stocks ended higher on Thursday as positive news about potential vaccines and economic recovery boosted market sentiment.

The Philippine Stock Exchange index (PSEi) rose by 0.40 percent to 5,604.49 points, while All Shares increased by 0.10 percent to 3,374.96 points.

Holding Firms, Industrial, and Services sectors saw gains of 1.35%, 0.66%, and 0.48% respectively, but Financials, Property, and Mining and Oil declined by 0.99%, 0.85%, and 0.27%.

Regina Capital Development Corporation's Luis Limlingan noted that while vaccine developments are positive, the WHO has raised concerns about rising cases in low-income countries.

The Philippine peso ended sideways at 50.61 against the US dollar, trading between 50.63 and 50.52 with a volume of USD778.6 million.