PSEi climbs as investors eye easing lockdowns

The Philippine stock market continued its upward trend on Thursday as investors remained optimistic about easing quarantine measures.

The PSEi rose 1% to end at 5,700.71, while the broader all shares index climbed 0.60% to 3,445.83.

Timson Securities' Darren T. Pangan attributed the positive sentiment to expectations of more relaxed quarantine conditions in certain areas previously under enhanced community quarantine (ECQ).

The government began issuing clearer guidelines on which sectors could resume operations as ECQ measures were set to expire on Thursday.

On Wednesday, the market gained 1.23% with the PSEi closing at 5,643.97, mirroring regional trends and optimism about easing lockdowns and the US Federal Reserve meeting.

Philstocks Financial's Claire T. Alviar noted that bargain hunting was supported by hints of a shift to general community quarantine (GCQ) after May 15, which could allow companies to resume operations and boost consumer demand.