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Stocks up, peso falls to 19-month low

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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.

South Korea will aim to secure critical mineral imports and boost trade ties with Africa as President Yoon Suk Yeol hosts... The 44-year-old Kevin Tan is taking over as president of the listed holding company of his father, tycoon Andrew Tan, in line...

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