Philippine shares rally as NCR returns to GCQ

The Philippine stock market closed positively on Tuesday, rebounding as investor sentiment improved with the announcement of Metro Manila and nearby provinces returning to general community quarantine (GCQ) starting Aug. 19.

The PSEi rose by 87.67 points or 1.44% to close at 6,156.45, while the All Shares index climbed 41.44 points or 1.15% to end at 3,635.78.

Regina Capital Development Corp.'s Luis Limlingan attributed the positive market sentiment to the IATF's recommendation and Duterte’s approval of shifting Metro Manila and surrounding areas to GCQ, which allows most businesses to resume operations and restaurants to offer dine-in services.