PSEi rebounds 1.04% after Monday's drop

The Philippine Stock Exchange index (PSEi) rebounded on Tuesday, rising 1.04% to close at 5,775.50 after a sharp decline on Monday.

On Monday, the PSEi dropped nearly 3.6%, closing at 5,715.92, following President Duterte's announcement of stricter quarantine measures in Metro Manila and other urban areas starting August 4.

The rebound was attributed to investors' hope that companies can endure tighter restrictions and reassurances from the Bangko Sentral ng Pilipinas (BSP) chief easing fears about economic impacts.

All subindices fell on Monday, with properties and financials leading the decline at 5.1% and 3.7%, respectively.