Philippine stocks rise as Omicron concerns ease

Philippine stocks rose on January 5th as concerns over the Omicron variant of COVID-19 lessened.

The PSEi gained 0.71 percent, with all shares rising by 0.43 percent.

Most sectoral indexes also increased, except for Property and Industrial indexes which moved sideways.

Local health authorities noted that while daily cases have risen to over 4,000, Delta remains the dominant variant in the country.

The Philippine peso strengthened against the US dollar, closing at 50.96 compared to its previous close of 51.3.