Philippine stocks close positively despite rising COVID cases

The Philippine stock market closed positively on Friday, July 10, despite rising COVID-19 cases globally and locally.

Investor sentiment was initially weak due to the resurgence of cases in the US and local infections exceeding 50,000 cases.

The PSEi rose by 4.8 points or 0.07% to close at 6,197.38, while the all-shares index increased by 7.08 points or 0.19% to end at 3,652.6.

Market analysts noted that late bargain hunting contributed to the positive closure of the week.