Philippine stocks rise, peso strengthens

Philippine stocks continued to rise on Thursday with the PSEi increasing by 1.005 percent and All Shares rising by 0.60 percent.

The Services sector saw the largest increase at 1.84 percent, followed by Financials, Property, Holding Firms, Mining and Oil, and Industrial sectors.

Positive data from a potential coronavirus treatment by Gilead Sciences boosted market sentiments, along with the Federal Reserve's commitment to maintain low interest rates.

The Philippine peso also strengthened slightly against the US dollar, ending at 50.4 per dollar compared to 50.51 on Wednesday.