Philippine News Agency
PSEi, peso benefit from easing Middle East tensions
The Philippine Stock Exchange Index (PSEi) closed slightly higher at 6,330.65 points on Thursday, with a 0.08 percent gain, as investors reacted positively to easing Middle East tensions.
The peso also strengthened, returning to the 56 to a dollar level, benefiting from the improved global sentiment.
While the overall market saw gains, most sectoral indices ended in the red, with Mining and Oil experiencing the largest drop.
However, Property and Holding Firms sectors showed positive movement.
Investor attention is now shifting to the upcoming US PCE inflation data, with Federal Reserve Chair Powell signaling a slight uptick but maintaining the Fed's inflation stance.
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The Philippines, through the Department of Foreign Affairs (DFA), has welcomed the ceasefire agreement between Israel and Iran, which could potentially end a 12-day war.
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