The PSE index, the 30-company benchmark of the Philippine Stock Exchange, gained 19 points, or 0.3 percent, to close at 6,148.31, as four of the six subsectors advanced.
Meanwhile, the peso weakened Wednesday to close at 58.94 against the US dollar from the previous day’s 58.75 on trading volume of $654 million.Japan’s stocks traded higher Wednesday. Benchmark Nikkei 225 index gained 0.37 percent, or 101.24 points, to end at 27,257.38, while the broader Topix index edged up 0.19 percent, or 3.62 points, to 1,905.06.
In other Asian markets, investors battled to push markets higher following another healthy run-up on Wall Street boosted by more positive earnings results that raised hopes for the reporting season. “Earnings season offers investors the opportunity to focus more on the actual earnings power of corporate America, and less on the machinations of the backward-looking economic data stream,” Art Hogan, a strategist at B. Riley, said.
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