By James A. Loyola
The local stock market rose yesterday on reports of a slowdown in new cases of the deadly coronavirus.
The Philippine Stock Exchange index (PSEi) gained 74.05 points, or 1.01 percent, to close at 7,396.94 as all sectors advanced. Volume was slightly higher at 621 million shares worth ₱6.49 billion as gainers edged out losers 101 to 91 with 48 unchanged.
”Some investors have given the country a chance for bargain hunting as new COVID-19 cases in China continued to fall with markets less focused on the outbreak,” said Regina Capital Development Corporation Managing Director Luis Limlingan.