The local stock barometer surged to nearly 7,300 on Wednesday, matching levels last seen before the coronavirus pandemic that prompted the imposition of tough quarantine protocols in the country in mid-March.
The main-share Philippine Stock Exchange index (PSEi) gained 71.97 points or 1 percent to close at a 10-month high of 7,299.70, supported by domestic investors who made up for continued net foreign selling.
This marked the PSEi’s best finish since Feb. 21 when it closed at 7,369.78. That was before the COVID-19 contagion turned into a pandemic.
“The story remains the same for the PSEi, still with headlines on vaccines likely driving markets in the near-term … However, we …
Keep on reading: PSEi posts best finish in 10 months