Philippine stocks closed this week’s trading in the green, closing slightly below the 6,800 level on the back of the recent peso appreciation against the US dollar.
Foreign buying, which reached P1.44 billion, also helped the market close strongly. Value turnover improved to P5.86 billion with 96 advancers, 75 decliners and 65 stocks unchanged. Markets have been enjoying a healthy run-up as Federal Reserve officials have lined up in recent days to suggest they are ready to begin reducing rates.
The New York Times cited several people close to Biden as saying they believe he has begun to accept that he may not be able to win and may have to drop out, with one quoted as saying: “Reality is setting in.” The Third Plenum, which meets twice a decade to decide key policies, saw few policy announcements, with state news agency Xinhua saying they had agreed to “prevent and resolve risks in key areas such as real estate, local government debt”.