The local stock barometer sustained its rally beyond 7,000 on Wednesday as investors looked forward to better economic and earnings prospects in the coming year.
The main-share Philippine Stock Exchange index (PSEi) rose by 71.06 points, or 1.01 percent, to close at 7,080.62, in line with mostly upbeat regional markets. Favorable news about coronavirus vaccine developments boosted risk-taking in recent weeks.
“The PSEi continued higher as it drew momentum from the big move that we saw in the previous session. It started the day slightly lower but then, a pick-up in buying pressure pushed prices higher. Blue chip property and holding firms continue to lead the market’s gains. We may…
Keep on reading: PSEi tracks upbeat regional markets, gains over 1%