PHILIPPINE shares surged on Wednesday as investors were buoyed by news of a potential cure for the coronavirus disease 2019 (Covid-19) and earnings by certain listed companies.

The benchmark Philippine Stock Exchange index (PSEi) climbed by 1.01 percent or 74.05 points to end at 7,396.94, while the wider All Shares rose by 0.49 percent or 21.11 points to finish at 4,362.09.