PHL shares fall amid pandemic recovery concerns

Philippine share prices closed lower on Wednesday due to investor concerns over the economic recovery from the pandemic.

The PSEi dropped 0.86% while the All Shares index fell 1.00%, reflecting worries about the government's decision not to place the entire country under modified general community quarantine (MGCQ) without a vaccine rollout.

On Monday, shares also declined as investors remained cautious ahead of President Duterte’s decision on easing quarantine restrictions in Metro Manila.

Philstocks Financial equity analyst Claire Alviar noted that negative sentiment persists due to uncertainties surrounding the vaccine rollout and its impact on economic recovery.