Philippine stocks, peso rise as risk-on sentiments persist
Risk-on sentiments sustained gains for Philippine stocks and the peso from Monday to Wednesday.
The PSEi rose by 3.66 percent on Wednesday, ending at 6,245.65 points, with Property leading sectoral gains.
Volume in shares increased to PHP8.25 billion on Wednesday, with advancers outnumbering decliners.
Luis Limlingan of Regina Capital Development Corporation attributed the positive market sentiment to regional economic reopenings amid US civil unrest and concerns over a second wave of infections.
The peso ended slightly stronger at 50.1 against the US dollar on Wednesday, improving from its 50.34 close on Tuesday.
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