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PH stocks up on easing ME tensions, peso closes at 57.54 a dollar

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Philippine stocks opened the week flat as investors stayed on the sidelines after last week’s sell strong sell-off.

With Iran downplaying a reported Israeli attack on the country, which came days after a drone and missile strike on Israel by Tehran, tensions between the regional foes appeared to have cooled. Investors are now setting their sights on the personal consumption expenditures index, the Federal Reserve’s preferred gauge of inflation, which is due on Friday.

The PCE report is followed by the bank’s policy announcement next week, which will be pored over for clues about its next step.

 

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