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Stocks up, peso falls to 19-month low

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Stock Market News

The stock market sustained Friday’s momentum opening on a high note yesterday as investors shopped for bargains. The peso meanwhile, retreated to a 19-month low against the greenback.

MANILA, Philippines —

“Overseas, China’s strong May factory activity, which expanded at 51.7, its fastest pace in nearly two years and beat estimates, lifted the sentiment in the region, including the Philippines,” she said. Meanwhile, the peso slumped further to its weakest level in 19 months yesterday, depreciating by 17 centavos to close at 58.68 to $1 from Friday’s 58.51 to $1, data from the Bankers Association of the Philippines showed.

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