Philippine stocks mirror Wall Street gains

The Philippine Stock Exchange index won its second straight session yesterday, rising by 0.89 percent or 57.46 points to close at 6,507.49.MANILA, Philippines —

Philstocks Financial research and engagement officer Mikhail Plopenio said the local market joined its Asian peers in the green territory on Wednesday, with the region taking cues from the S&P 500 and the NASDAQ’s record performances overnight. However, he said net market value turnover was tepid at P4.04 billion, lower than the year-to-date average of P4.98 billion.Services and financials led the charge, surging by 1.78 percent and 1.72 percent, respectively.

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Stock market today (June 5, 2024): Asian stocks trade mixed after Wall Street logs modest gainsAsian shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street. Japan's benchmark Nikkei 225 shed 1.0% in early trading to 38,448.61. Australia's S&P/ASX 200 edged up 0.3% to 7,759.20. South Korea's Kospi jumped 1.2% to 2,695.02.
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Wall Street gains fuel peso, stocks reboundTHE peso and the stock market posted a rebound on Wednesday following a two-day decline as sentiment rose on hopes that the US Federal Reserve (Fed) could cut interest rates more than once this year.
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