PSEi rallies, peso steady

The Philippine Stock Exchange index (PSEi) rallied on Wednesday, rising by 0.66 percent to 5,966.27 points.

All sectors except Mining and Oil saw gains, with Industrial leading the way at 1.76 percent.

President Duterte's support for economic reform measures during his State-of-the-Nation Address boosted market sentiment.

The peso remained stable at 49.19 against the US dollar, its strongest level since November 2016.

Weak US consumer confidence and positive developments on potential COVID-19 vaccines contributed to the peso's strength.