The local stock barometer rose for the second session in a row on Tuesday as investors took heart from rebounding US stock markets.
The main-share Philippine Stock Exchange index (PSEi) added 53.12 points, or 0.78 percent, to close at 6,867.88, in line with mostly firmer regional markets.
“Philippine shares closed higher as Wall Street appeared to have shaken off concerns about a speculative retail trading mania that largely drove the market’s worst weekly sell-off since October,” said Luis Gerardo Limlingan, managing director at local stock brokerage Regina Capital Development.
Overnight, the Dow Jones Industrial Average rose by 229.29 points, or 0.8 percent, to 30,211.91, whil…
Keep on reading: PSEi gains 0.78% as most counters advance