PSEi up 1.56% on GCQ optimism

Share prices on the Philippine Stock Exchange (PSE) surged by over 1% on Monday to mark the fourth consecutive trading session of gains, buoyed by optimism on the resumption of businesses.

The main PSEi gained 91.33 points or 1.56% to close at 5,930.17. The broader All Shares index rose 52.52 points or 1.52% to 3,510.22.

According to Regina Capital Development Corp. head of sales Luis Limlingan, Monday's climb came as players were optimistic on the resumption of businesses.

"Local shares continued their rise close to the 6,000 territory, as investors grew optimistic with businesses returning closer to normal during GCQ," he said in a mobile message.

Metro Manila, along with several other areas, shifted to a general community quarantine (GCQ) on Monday, June 1, opening the door for more businesses to resume operations.

"The country is being perceived as a less risky asset with investors awaiting Trump's response to a Chinese national security law for Hong Kong and its potential impact on an already fragile global economy," said Limlingan.

More than 820.039 million shares, valued at P6.978 billion, changed hands. Advancers trumped decliners, 127 to 63, and 37 issues were unchanged. — RSJ, GMA News