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Manila Bulletin devider Business devider Local stocks rally further

Local stocks rally further

Published Apr 15, 2020 12:00 am
By James A. Loyola The local stock market rallied further yesterday on growing optimism about how the impact of COVID-19 is being handled. PSE NEW LOGO The Philippine Stock Exchange index (PSEi) surged 165.17 points, or 2.86 percent, to close at 5,946.05 with the Financials sector leading the charge. Volume jumped to 911 million shares worth ₱9.1 billion as gainers beat losers 135 to 66 with 40 steady. “Local shares continued to jump, resuming the market’s sharp rebound from last month’s lows, as investors grew more optimistic about the COVID-19 outbreak,” said Regina Capital Development Corporation Managing Director Luis Limlingan. Philstocks Financial Vice President for Research Justino Calaycay Jr. notrd that, “The PSEI made its first serious attempt to restore the 6,000-mark, a level it last held in mid-March as Investors took cognizance of the rally in US equities overnight.”
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