Local stocks surged for a fourth session on Wednesday, allowing the main index to breach the 5,200 mark, as investors bet on the country’s strong macroeconomic fundamentals.
The local stock market rebounded on Tuesday, as yield-seeking investors picked up selective blue chips, especially among property firms and conglomerates.
Local share prices recovered from early losses on Wednesday after President Aquino’s announcement of a “stimulus package” that would help the government make up for ground it lost in terms of spending in the first half of the year.
