The benchmark Philippine Stock Exchange index (PSEi) rebounded strongly above the 6,400 level on Wednesday after Metro Manila mayors suggested relaxing further COVID-19 restrictions.
By the closing bell, the PSEi gained 1.77 percent, or 112.67 points, to 6,469.14 while the broader all-shares index was up 1.21 percent, or 47.18 points, to 3,957.50.
Investors reacted positively to the announcement of Metropolitan Manila Development Authority chair Benhur Abalos that mayors were recommending looser restrictions via a “flexible modified enhanced community quarantine.”
All subcounters at the PSE also ended with gains, which were led by holding firms and property stocks, up by 2.33 pe…
Keep on reading: ‘Flexible’ MECQ rouses sleepy PSEi