PHL shares recover as Iran and Israel halt attacks

PHILIPPINE SHARES rebounded on Tuesday as tensions between Israel and Iran eased, causing global oil prices to fall anew and boosting risk sentiment, according to BusinessWorld.

The Philippine Stock Exchange index (PSEi) rose by 1.12% or 66.30 points to close at 5,945.71, while the broader all shares index went up by 0.69% or 22.97 points. The recovery followed a period of market uncertainty driven by geopolitical risks in the Middle East.

Analysts attributed the uptick to improved risk appetite after both sides signaled a de-escalation, which also pulled down oil prices. The development provided relief to import-dependent economies like the Philippines, where lower fuel costs could help ease inflation pressures.