The market had reacted to Metro Manila’s shift to a general community quarantine beginning June 1. An MSCI rebalancing also lifted index heavyweight stocks like SM Investments and Ayala Corp. at runoff.
The rally was led by the holding firms and financial counters, which respectively surged by 6.26 percent and 5.36 percent. Investors continued to dump shares of Jollibee, which fell by 6.37 percent after its first quarter earnings report showed a reversal to a net loss for the first time in 19 years.
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