PH stocks up on quarantine easing

Published October 19, 2020, 4:18 PM

by James A. Loyola

The local stock market surged on news that government is easing quarantine measures to boost the economy.

Traders work beneath an electronic ticker on the trading floor of the Philippine Stock Exchange in Bonifacio Global City (BGC) Metro Manila, the Philippines. (Bloomberg FILE PHOTO)


The main index jumped 120.79 points or 2.09 percent to close at 6,019.26 as share prices rose across the board.
However, volume remained low with 2.48 billion shares worth P5.44 billion changing hands as gainers beat losers 125 to 76 with 46 unchanged.
“The PSEi started the week with a substantial rally as investors get a boost of confidence  from the easing of restrictive quarantine measures,”said AAA Equities Head of Research Chris Mangun.
He added that, “Concerns of a plateau in the pace of the economy’s recovery have been diminished by the recent developments.”

 
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