Philstar
PSEi soars back to 6,500 level
The Philippine Stock Exchange Index (PSEi) reached a four-month high, closing at 6,566.82 points, an increase of 1.68% or 108.62 points.
This surge was attributed to investor optimism following a 90-day tariff truce between the United States and China, which reduced duties on goods exchanged between the two economic giants.
The Philippine midterm elections also contributed to the positive market sentiment, as the general outcome was peaceful.
Analysts suggest that the sustainability of this market rally will depend on upcoming economic data, including first-quarter corporate earnings and US inflation figures.
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The Philippine Stock Exchange index (PSEi) experienced a notable increase of 1.68 percent, closing at 6,566.82, driven by positive performance in US equities and the successful conclusion of the midterm elections.
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The Philippine Stock Exchange Index (PSEi) recovered the 6,400 mark, closing at 6,418.69, a 0.93 percent gain, driven by positive investor sentiment from a slower April inflation rate and strong corporate earnings.
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