Philippine stocks rebound from 4-day slide

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 55%

United States News News

United States United States Latest News,United States United States Headlines

MANILA—Local stocks rebounded Thursday from four days of decline, as the benchmark index tracked the positive performance of US and

The 30-company bellwether Philippine Stock Exchange index 46.15 points, or 0.75 percent, to close at 6,225.78, while the broader all-shares index went up 17.94 points to settle at 3,357.57.

China Bank Capital managing director Juan Paolo Colet said the easing US Treasury yields and indications of softening US private sector business activity lifted market sentiment. “Whether today’s rise in the PSEi is a mere technical rebound or the beginning of sustained recovery will depend on Fed Chair Jerome Powell’s remarks at the Jackson Hole symposium,” Colet said.

Philstocks Financial Inc. research and engagement officer Mikhail Plopenio said investors also hunted for bargain stocks following the four-day slump.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 20. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Net Asset Value Per Share (NAVPS) Performance (as of August 23, 2023) | Philippine Investment Funds Associationicap082323-for-Business-Mirror
Source: BusinessMirror - 🏆 19. / 59 Read more »