PSEi rebounds on softer US inflation

MANILA, Philippines – Local stocks rebounded on Wednesday as easing US inflation boosted risk appetite, although ongoing tensions in the Middle East subdued investor optimism. The benchmark Philippine Stock Exchange Index (PSEi) climbed 0.74 percent, or 46.48 points, to close at 6,302.50, recovering from the previous session’s decline. READ: Trump vows to hit Iran ‘hard,’ impose Strait of Hormuz transit fees According to brokerage Philstocks Financial Inc., the local market tracked Wall Street’s overnight gains after US inflation slowed more than expected. US consumer prices rose 3.5 percent in June, easing from 4.2 percent in May, helping temper concerns over the […]... Keep on reading: PSEi rebounds on softer US inflation