PHILIPPINE SHARES ended higher on Wednesday as investors took advantage of lower valuations after the market’s steep decline in the prior session, according to BusinessWorld.
The Philippine Stock Exchange index (PSEi) rose by 0.53% or 32.09 points to close at 6,069.26, while the broader all shares index went up by 0.16% or 5.49 points to end at 3,324.78. The rebound came after a sharp sell-off in the previous trading day.
Analysts noted that the market's decline had been overdone, prompting bargain hunting. The positive close also reflected improved investor sentiment amid hopes for continued economic recovery.