Philippine Stocks Recover, Peso Ends Sideways

The Philippine Stock Exchange index (PSEi) recovered on Wednesday after two days of decline, rising by 0.29 percent or 18.10 points to close at 6,285.50 points.

Investor sentiment was initially weak due to the White House's stance that the next round of stimulus package will amount to only USD1 trillion or less and Federal Reserve officials' statements about additional challenges brought by rising infection cases.

The peso ended sideways against the US dollar, closing at 49.47 from 49.54 a day ago.