Stocks rise on vaccine hopes

By James A. Loyola

Local share prices rose yesterday with global markets on reports of success in the testing of a vaccine against COVID-19.

The Philippine Stock Exchange index (PSEi)gained 76.50, or 1.40 percent, to close at 5,555.85 with only the Mining and Oil sector in the red.

Volume remained thin though with 600 million shares worth ₱4.05 billion changing hands as gainers beat losers 90 to 80 with 44 unchanged.

“Philippine shares rallied as news from a Moderna trial in US stoked optimism about a potential coronavirus vaccine,” said Regina Capital Development Corporation Managing Director Luis Limlingan.