The benchmark Philippine Stock Exchange index (PSEi) rose on Tuesday, overcoming a government report showing that more Filipinos went jobless after strict lockdowns were reimposed due to the pandemic.
By the closing bell, the PSEi was up 0.68 percent, or 45.80 points, to 6,809.72 while the broader all-shares index rose 0.43 percent, or 17.51 points, to 4,117.13.
Those gains came even as the Philippine Statistics Authority reported an 8.7-percent unemployment rate in April—higher than 7.1 percent last March—representing about 4.14 million people.
The news was brushed aside by investors with all subsectors, save for mining and oil, ending in positive territory for the session….
Keep on reading: Investors brush aside grim jobs data; index up