Philippine financial markets remained on positive footing as stocks notched a fifth straight day of gains while the peso recovered from its previous session’s decline.
Philippine financial markets closed higher on Thursday as stocks posted a second straight day of gains while the peso edged up after two sessions of losses.
Stocks opened July on a positive note, but the peso weakened for a second straight session, reflecting mixed signals across Philippine financial markets.
Philippine stock index closes at 6,037.17, gaining 237.85 points from start of month as mid-June rally offsets uneven trading and recurring pullbacks.
PH shares extended their recovery above the 6,000 level while the peso closed unchanged against the US dollar.
Local stocks recovered from the previous session’s losses while the peso posted a strong comeback against the US dollar.
Philippine financial markets weakened further, with stocks surrendering recent gains and the peso posting a third straight day of losses.
The stock market recovered from recent losses, but the local currency remained under pressure as it slipped deeper into ₱61 territory.
Equities and the local currency drift lower as investors stay defensive, keeping both markets within recent trading ranges.
The stock market regained some ground after two days of losses, while the local currency gave up part of its recent gains.
