Philippine shares rallied for a sixth straight session on Wednesday, posting their best close in over four months on sustained buying momentum despite renewed tensions between the United States and Iran, BusinessWorld reported.
The Philippine Stock Exchange index (PSEi) rose by 0.45% or 28.66 points to close at 6,275.77, while the broader all shares index increased, reflecting broad-based gains across most sectors.
Market analysts attributed the rally to continued optimism over domestic economic recovery and foreign fund inflows, which outweighed concerns over geopolitical risks from the US-Iran tensions.