Stocks rally on vaccine news

Published February 5, 2020, 12:00 AM

by manilabulletin_admin

By James A. Loyola

The local stock market continued to recover lost ground yesterday on news that a vaccine against the novel coronavirus may be ready sooner than later.

The Philippine Stock Exchange index (PSEi) jumped 125.95 points, or 1.74 percent, to close at 7,352.85 as share prices rose across the board.

Volume also rose, with 1.27 billion shares worth ₱9.07 billion changing hands, as gainers outnumbered losers 110 to 74 with 48 unchanged.

“Philippine shares and risk assets rallied once more as the caucaus in Iowa result is giving President Trump a good chance in winning the US election in November,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

 
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