MANILA – Hopes for the possible vaccine against the coronavirus disease 2019 (Covid-19) based on the result of the latest trials resulted in risk-on sentiments in the local equities market Thursday but the peso ended the day sideways against the US dollar.
The Philippine Stock Exchange index (PSEi) recovered Thursday after rising by 2.18 percent, or 131.15 points, to 6,147.66 points.
All Shares increased by 1.79 percent, or 63.44 points, to 3,607.80 points.
Property counter led the sectors after it jumped by 2.94 percent, and was trailed by the Financials, 2.15 percent; Holding Firms, 1.95 percent; Services, 1.80 percent; Industrial, 1.29 percent; and Mining and Oil, 0.35 percent.
Volume totaled to 4.80 billion shares amounting to PHP4.41 billion.
Gainers led losers at 135 to 62, while 37 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said optimism on the result of trials for possible Covid-19 vaccine lifted sentiments, not just in the local bourse.
On Wednesday, reports quoted the Russian defense ministry as saying that it has developed a “safe” vaccine against Covid-19 after clinical trials on 18 volunteers who were discharged without showing “serious adverse events, health complaints, complications or side effects.”
Philippines’ Food and Drug Administration (FDA) Director General Eric Domingo said 23 potential vaccines against Covid-19 are now under the clinical testing stage in several countries.
Meanwhile, the local currency ended the day at 49.535 from 49.48 a day ago.
It opened the day at 49.49, also sideways from its 49.45 start in the previous session.
It traded between 49.6 and 49.49, resulting in an average of 49.544.
Volume totaled to USD768.49 million, lower than the USD563.8 million a day ago. (PNA)
