The Philippine peso weakened slightly on Friday while the stock market saw a rebound, likely fueled by bargain hunting and anticipation of Donald Trump's return to the White House next week. The peso fell by three centavos to P58.64 against the dollar, while the benchmark Philippine Stock Exchange index (PSEi) increased 1.38 percent to close at 6,352.12.
THE peso edged lower on Friday while the stock market rebounded ahead of Donald Trump 's return to the White House next week.The currency weakened by three centavos to P58.64 against the dollar and the benchmark Philippine Stock Exchange index added 86.60 points, or 1.38 percent, to close out the week at 6,352.12.The broader All Shares also rose, by 27.95 points or 0.76 percent, to 3,703.73.The peso opened at 8.55:$1 and ranged from P58.48 to P58.67. Volume reached P1.
4 percent 2024 GDP growth rate which came in above expectations also helped in today's climb,' he added.Tantiangco described the day's trading as 'tepid' with net value turnover at P4.14 billion.'Foreigners were net sellers with net outflows at P97.37 million,' he added.Regina Capital Development Corp.
PESO STOCK MARKET TRUMP PHILIPPINE ECONOMY INVESTORS
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