Stocks bounce back as May inflation eases

The local stock market rebounded on Tuesday as investors welcomed the easing of inflation in May, according to Philstar Biz .

The Philippine Stock Exchange index rose by 1.2% to close at 7,245.67, reversing a three-day losing streak. The broader All Shares index also gained 0.9%.

Analysts attributed the uptick to the Philippine Statistics Authority's report that May inflation slowed to 4.1% from 4.5% in April, raising hopes that the central bank may pause its tightening cycle.