PSEi rebounds after GCQ extension
The Philippine Stock Exchange index (PSEi) rebounded on Thursday, gaining 2.18% to close at 6,147.66 points after President Duterte extended the general community quarantine (GCQ) in Metro Manila until July 31.
Investors were relieved by the decision not to tighten lockdown measures and welcomed news of potential vaccine developments.
On Wednesday, stocks had declined due to fears of stricter quarantine measures as COVID-19 cases continued to rise, with the PSEi dropping 2.53%.
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