By James A. Loyola
The local stock market surged again on optimism over the passage of a major stimulus package in the world’s biggest economy.
The main index jumped 373.82 points or 7.44 percent to 5,401.58 as share prices continued to rise across the board.
Volume was average at 590 million shares worth ₱7.67 billion with gainers overwhelming losers 151 to 48 while 26 were unchanged.
“Philippine shares rallied for another day after White House and Senate leaders agreed to a massive $2 trillion coronavirus stimulus bill mid day yesterday,” Regina Capital Development Corporation Managing Director Luis Limlingan said.