Connect with us

Hi, what are you looking for?


Shares rebound as gov’t clears Pfizer vaccine use

By Revin Mikhael D. Ochave, Reporter

PHILIPPINE shares ended higher on Thursday, ending its two-day skid, on the government’s approval of Pfizer, Inc.’s coronavirus disease 2019 (COVID-19) vaccine for emergency use.

The Philippine Stock Exchange index (PSEi) rose 30.3 points or 0.41% to close at 7,273.15, while the all shares index climbed 16.01 points or 0.36% to end at 4,350.94.

Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a mobile phone message that the local bourse improved as the market cheered the government’s approval of Pfizer’s COVID-19 vaccine for emergency use.

Reuters reported that the Food and Drug Administration on Thursday has granted emergency use authorization for the COVID-19 vaccine created by Pfizer and BioNTech.

The vaccine has shown to have a 95% efficacy rate, but requires storage in temperatures ranging from -80 to -60 degrees Celsius.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun said the market improved despite a confirmed case of the new COVID-19 strain in the country.

“Buying pressure picked up right at the open after buyers noticed that there wasn’t much panic selling. This tells us that most investors were already expecting the new mutation to be found here and it was only a matter of time,” Mr. Mangun said in an e-mail.

The Department of Health announced on Wednesday that the Philippine Genome Center (PGC) has confirmed the detection of the new COVID-19 variant in the country.

The new variant, known as B117 and first found in the United Kingdom, was detected in a 29-year old Filipino male who arrived from the United Arab Emirates on Jan. 7.

Majority of sectoral indices closed higher on Thursday, except for mining and oil, which dropped 146.17 points or 1.46% to 9,808.54, and industrials, which fell 46.6 points or 0.48% to 9,499.84.

Financials improved 16.31 points or 1.09% to 1,506.39; services went up 14 points or 0.91% to 1,552.85; property increased 17.35 points or 0.46% to 3,712.82; and holding firms gained 6.59 points or 0.08% to 7,420.01.

Decliners bested advancers, 121 versus 107, while 36 names ended unchanged.

Value turnover amounted to P10.96 billion with 30.09 billion issues switching hands, lower than the P9.17 billion with 17.08 billion issues logged in the previous session.

Net foreign buying reached P242.46 million, a turnaround from the net outflows worth P220.06 million logged on Wednesday.

“The PSEi climbed all the way up to the 7,300 level, but couldn’t end the day above it, proving once again how strong this resistance level is. We may see a pullback on the last trading day of the week,” Mr. Mangun said. — with Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



JAKARTA — Armed with the world’s largest reserves of nickel and a ban on the export of nickel ore, Indonesia is making itself indispensable...


LONDON — Britain faces its largest ever strike by health workers on Monday as tens of thousands of nurses and ambulance workers walk out...


SINGAPORE — Polluting single-use plastic production rose by 6 million tons per year from 2019 to 2021 despite tougher worldwide regulations, with producers making...


BAMAKO — The Malian interim government on Sunday said the head of the United Nations (UN) peacekeeping mission’s human rights division had 48 hours...


LVIV — Ukraine has sent letters to companies that back the International Olympic Committee (IOC) urging them to keep Russian athletes out of the...


SYDNEY — Australian Prime Minister Anthony Albanese will push for bipartisan support on a referendum that aims to set up an Indigenous consultative committee...

You May Also Like


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.