Stocks rally on optimism

Published April 14, 2020, 12:00 AM

by manilabulletin_admin

 

By James A. Loyola

Local share prices continued to rally on Tuesday as investors remained bullish on expectations of easing coronavirus cases worldwide.

The Philippine Stock Exchange index (PSEi) surged 169.90 points, or 3.03 percent, to close at 5,780.88 with the Industrial and Services counters leading the rally across the board.

Volume was higher at 979 million shares worth ₱7.38 billion as gainers beat losers 158 to 53 while 32 were steady.

“The PSEi picked up the pace and continued higher today as more investors gain optimism,” said AAA Eauities Research Head Chris Mangun. He added that, “The lack of selling encouraged buyers to come in at current prices.“

 
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