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PSEi ekes out gains as virus cases climb further

March 17, 2021 | 9:00 pm Font Size BW FILE PHOTO STOCKS inched up on Wednesday as investors continue to gauge the government’s response to the country’s rising coronavirus disease 2019 (COVID-19) cases. The Philippine Stock Exchange index (PSEi) climbed 7.75 points or 0.11% to close at 6,566.83 on Wednesday, while the broader all shares index went up by 10.63 points or 0.26% to 3,964.78. “We think the market has not yet fully priced in the possibility of a wider reimposition of stricter quarantine measures,” China Bank Securities Corp. Research Associate Jason T. Escartin said via e-mail. “The PSEi huddled in the 6,500-6,600 support zone, a significant level previously seen right before the government imposed its first round of lockdowns in mid-March 2020.”

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