The stock market continued its rally on Tuesday as hopes of continued economic recovery from the impact of the the coronavirus disease 2019 pandemic keep bolstering investor sentiment. “The local market extended its gains by 69.84 points to 6,583.84, following [in] the footsteps of US indices, on the back of economic recovery hopes,” Philstocks Financial Inc. said in a market comment. “With most of the Asian markets [sustaining] its upward trend, [the] Philippine market [remained on] recovery mode, as it is among the countries that eased [their] lockdowns only last week. Thus, it’s still [catching up] with other regions, as it is considered among the countries with strong economic fundamentals,” he explained. On Wall Street, the Dow Jones, S&P 500 and Nasdaq gained 1.7 percent, 1.2 percent and 1.13 percent, respectively.

Source: Manila Times June 09, 2020 18:45 UTC