PSEi rebounds 1% after market bloodbath

Philippine stock prices rebounded on Friday, gaining 1.005% to close at 5,793.94 after experiencing its worst decline since the Global Financial Crisis due to COVID-19 fears.

The broader All Shares index also increased by 0.03% to 3,493.64.

Philstocks Financial's Claire Alviar attributed the recovery to bargain hunting and government support.

Trading was briefly halted in the morning after a 10.43% drop triggered a circuit breaker.