PSEi rebounds on last-minute bargain hunting

Share prices on the Philippine Stock Exchange managed to close trading in the green on Wednesday, helped by last-minute hunt for cheaper stocks.

The bellwether PSEi gained 18.10 points or 0.29% to 6,285.50 at the closing bell. The broader All Shares increased by 5.92 points or 0.16% to 3,683.75.

“Last-minute bargain hunting sent the local market higher today... prior to the climb, the PSEi was moving sideways with a downward bias brought by COVID-19 worries,” Philstocks Financial said in a daily market commentary.

More than 2.389 billion shares valued at P8.722 billion, changed hands. Decliners led advancers, 106 to 82, and 44 issues were unchanged. — BM, GMA News