PSEi rebounds on gov’t measures vs. virus

The Philippine Stock Exchange (PSE) saw a recovery on Tuesday with the PSEi gaining 0.65% to 4,774.27 as investors welcomed government measures against COVID-19.

On Monday, the PSEi closed lower by 0.74%, reflecting investor concerns over the pandemic and heavy selling at the start of trading.

The peso also weakened on Monday due to rising coronavirus cases, closing at 51.33 from 50.97 Friday last week.

Economists predict continued volatility as efforts to curb the spread of COVID-19 continue, with shares expected to drop further this week.