PSEi rebounds 1.05% after inflation-driven selloff
The local bourse perked up, rising 59.57 points to 5,736.69 even as the peso firmed up, P62.750 vis-a-vis the US dollar, from the previous P62.771 close.
The PSEi recovered from the previous session’s drop, to reclaim the 5,700 level while the peso settled at P62.75 to the dollar. Sentiment was supported by bargain-hunting among investors, positive performance cues from Wall Street, and local employment data showing a decline in the unemployment rate.
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