PSEi closes higher on last-minute bargain hunting

The Philippine Stock Exchange Index (PSEi) closed higher on Wednesday due to last-minute bargain hunting.

Despite moving sideways for most of the day, the PSEi gained 18.10 points or 0.29% to close at 6,285.50.

The broader All Shares index also increased by 5.92 points or 0.16% to 3,683.75.

Philstocks Financial attributed the higher close to bargain hunting and noted that investor sentiment was dampened by rising local COVID-19 cases and warnings from the World Health Organization.