PHL stocks climb on optimism over government stimulus

Philippine stocks continued to climb on Wednesday, with the PSEi rising 2.85% to close at 5,946.05.

The increase was driven by bargain hunting and optimism over the government's stimulus programs aimed at mitigating the economic impact of COVID-19.

The previous day, shares rallied more than 3%, fueled by similar sentiments regarding fiscal and monetary support measures.

Government initiatives include a subsidy program for workers and small businesses affected by quarantine measures, as well as financial aid to low-income families.