Stocks bounce on bargain hunting

The Philippine Stock Exchange Index bounced back as investors picked up bargains on news that COVID-19 cases in the National Capital Region seems to be easing.

“The local bourse bounced back after two consecutive days of decline on the back of bargain hunting,” sa Phi Financial Senior Supervisor for Re Japhet Tantiangco. Tantiangco pointed out though that the lower trading volume “shows that many investors are still staying out of the market while waiting for the COVID-19 uncertainties to clear.”

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