PSEi bounces after US-Iran talks continue despite airstrikes
The Philippine Stock Exchange index rose by 1.01% as investor sentiment improved following eased US-Iran tensions. Market gains were supported by positive regional performance and bargain hunting after a previous correction.
Why it matters
Market fluctuations in emerging economies are highly sensitive to geopolitical stability and investor confidence in major global powers like the US.
The Philippine Stock Exchange index (PSEi) resumed its upward trajectory on Friday, July 10, after the previous trading day’s breather, as easing United States (US)-Iran tensions and a vote of confidence in the Philippine economy from US aid agency Millennium Challenge Corp. (MCC) lifted investor sentiment.
The main index rose by 62.83 points, or 1.01 percent, to close at 6,286.70. Miners led the charge across the board.
Volume jumped to 1.19 billion shares worth ₱9.03 billion. Gainers outnumbered losers—102 to 82, with 61 unchanged.
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