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Philippine stocks fall after Hamas attack against Israel

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Philippine stocks fell as the conflict between Israel and Palestine over the weekend weighed on market sentiment.

The Philippine Stock Exchange index fell 7.79 points or 0.12 percent to close at 6,252.16 yesterday.

“Many participants opted to stay on the sidelines as they adopted a wait-and-see stance while the situation unfolds,” Colet said. US Defense Secretary Lloyd Austin ordered the Ford carrier strike group to sail to the Eastern Mediterranean to be ready to assist Israel, in a move meant to help deter any regional expansion of the conflict.

A strong job market also carries some rewards for financial markets in the short term. It means the economy is still doing well despite high rates, which could support corporate profits.

Employees at US industrial automaker Mack Trucks voted down a labor agreement on Sunday and will join some 25,000 other United...

 

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