Philippine shares rebound as COVID-19 cases in NCR decline

Shares rebounded on Friday as investors went bargain hunting amid decreasing coronavirus cases in Metro Manila.

The Philippine Stock Exchange index (PSEi) advanced by 0.74%, while the broader all shares index gained 0.35%.

OCTA Research reported that COVID-19 cases in NCR are trending downward, with fewer than 10,000 new cases on January 19 for the first time in two weeks.

Investors also brushed aside inflation concerns in the US, focusing instead on the improving situation in Metro Manila.