PSEi inches higher as coronavirus concerns ease

The Philippine Stock Exchange index (PSEi) rose slightly on Thursday, gaining 0.27% to end at 7,403.12, as investor concerns over the novel coronavirus eased.

Bargain hunters drove the market higher earlier in the week with the PSEi adding 0.11% on Tuesday.

Despite the positive movement, most investors remained cautious due to ongoing worries about the economic impact of the virus, which had caused more than 60,000 confirmed cases and over 1,350 deaths globally by Wednesday night.