PSEi gains fourth straight day on easing lockdown hopes

Philippine share prices continued their rally for the fourth straight day on Thursday, driven by foreign investors' optimism about potential easing of lockdown measures in Metro Manila.

The benchmark PSEi gained 102.78 points or 1.71% to close at 3,591.74, while the broader All Shares index increased by 39.76 points or 1.12%.

Investor optimism stems from President Duterte's upcoming announcement on August 17 regarding new quarantine classifications for Metro Manila and its adjacent provinces.

On Tuesday, shares also closed higher as investors anticipated that the current lockdown would not be extended beyond Aug. 18, following President Duterte’s speech indicating funds were depleted to extend restrictions.