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Stock market cheers GCQ announcement

By James A. Loyola

The local stock market surged yesterday on month’s end window dressing and optimism after the announcement of easing quarantine measures.

The Philippine Stock Exchange index (PSEi) jumped 268.62 points, or 4.82 percent, to 5,838.84 although the Mining and Oil counter retreated.

Volume also soared to 1.97 billion shares worth ₱20.39 billion as gainers outpaced losers 95 to 81 with 40 unchanged.

“Philippine shares closed in the green as the last minute window dressing and MSCI rebalancing,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “investors remained optimistic on the outlook of the local economy as the country transitions to GCQ.”


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/29/stock-market-cheers-gcq-announcement/)

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