Philippine stocks rise on vaccine deal optimism

Philippine stocks closed slightly higher on Tuesday due to optimism over a new vaccine deal.

The PSEi gained 6.62 points (0.1%) to close at 6,559.08, with financial and industrial counters leading the gains.

Government signed a supply agreement for 30 million Novavax doses, expected to arrive in the second half of the year.

Optimism also benefited the peso, which closed sideways against the US dollar at 48.635.