Philippine News Agency
Stocks rise anew, peso weakens vs. USD
The Philippine Stock Exchange index (PSEi) rose for the second consecutive day on Wednesday, closing at 5,408.52 points.
This increase was mirrored across all other PSEi indices, with Services and Holding Firms showing the largest gains.
Despite the stock market's positive performance, the Philippine peso weakened against the US dollar, closing at P50.88:$1.
Investors are expressing optimism for a potential 'V' shaped economic recovery, anticipating a sharp GDP drop in the second quarter followed by a swift rebound in the third.
Global oil prices saw an increase following discussions between the US and Russian presidents aimed at stabilizing the energy market.
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