The benchmark Philippine Stock Exchange index (PSEi) edged higher on Wednesday after President Duterte expressed caution overnight about fully reopening the economy amid the recent surge in new coronavirus cases in the country.
The PSEi went up 0.29 percent or 18.10 points to 6,285.50 while the broader all-shares index was up 0.16 percent or 5.92 points to 3,683.75.
Gains came after Mr. Duterte said the economy would be reopened gradually. The Philippines now has the second highest number of COVID-19 cases in Southeast Asia after Indonesia.
Subsectors on Wednesday ended mixed. Holding firms and services gained 1.2 percent and 0.67 percent, respectively, while losers were led by mining and oil and industrials, down 1.17 percent and 1 percent, respectively.
Property and financial companies lost 0.74 percent and 0.39 percent, respectively.
Value turnover hit P8.72 billion. There were 82 gainers versus 106 decliners while 44 companies closed unchanged.
The Consunji family’s DMCI Holdings Inc. was the most actively traded on Wednesday as it gained 1.2 percent to P4.22 per share.
It was followed by PLDT Inc., up 3.93 percent to P1,348; BDO Unibank Inc., down 2.45 percent to P95.60; Universal Robina Corp., down 1.9 percent to P124.10, and Ayala Land Inc., down 2.31 percent to P33.90 per share.