The stock barometer inched up on Thursday as investors took comfort from the recent decline in local daily COVID-19 cases even as the government’s extension of tough lockdown protocols are seen to temper prospects for economic rebound.
The main-share Philippine Stock Exchange index (PSEi) added 18.37 points, or 0.28 percent, to close at 6,487.51 in thin trade, tracking mostly firmer markets across the region.
“The PSEi inched higher despite starting the day much weaker. The steady decline in the daily average of new COVID-19 cases has generated some optimism among investors,” said Christopher Mangun, head of research at AAA Equities.
While President Duterte announced the extensi…
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