The local stock market rebounded sharply on Tuesday, driven by easing geopolitical tensions in the Middle East after Iran halted military strikes against Israel, Philstar Biz reported.
The Philippine Stock Exchange index (PSEi) gained 2.3% to close at 6,542.10, recovering from a three-day losing streak as investor sentiment improved on hopes of a ceasefire. All sectoral indices ended in positive territory, led by property and holding firms.
Analysts said the rally reflected relief that a full-scale conflict had been averted, but cautioned that market volatility could persist if tensions reignite. The peso also strengthened against the dollar, trading at ₱55.80:$1.