The local stock market jumped on continued optimism over the expected easing of quarantine measures.
The PSEi rose 102.78 points, or 1.71 percent, to close at 6,097.78 with only the Services sector in the red.
Volume was hefty at 1.35 billion shares worth P17.15 billion due to the listing of AREIT.
The PSEi extended gains today as investors gained more optimism that lighter quarantine restrictions will strengthen the economy's recovery in the third quarter. Several blue chips continue higher after bouncing back from their lowest levels in the last three months. The main index is currently up 4.3% for the week. We may see some profit taking on the last trading day of the week.
“The PSEi extended gains today as investors gained more optimism that lighter quarantine restrictions will strengthen the economy's recovery in the third quarter,” said AAA Equities Head of Research Chris Mangun. Regina Capital Development Corporation Managing Director Luis limlingan also noted that, “US Stocks also rallied on Wednesday, led by the Tech heavy Nasdaq.”(