Philippine stocks rise, peso weakens
On Wednesday, the Philippine Stock Exchange index (PSEi) rose for the second consecutive day by 1.64 percent, but the peso weakened against the US dollar.
Services saw the highest increase in stocks at 2.27%, followed by Holding Firms and Mining and Oil sectors.
Regina Capital's Luis Limlingan noted optimism among investors expecting a 'V' shaped recovery post-COVID-19 impact with a sharp drop in GDP in Q2 and a quick rebound in Q3.
Oil prices rose after US President Donald Trump and Russian President Vladimir Putin discussed stabilizing the energy market.
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