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MANILA, Philippines – Local stocks extended their recovery on Tuesday as investors continued to scoop up beaten-down shares, while easing fuel prices and government plans to bolster energy security lifted sentiment.
The benchmark Philippine Stock Exchange Index (PSEi) climbed 1.95 percent or 113.37 points, to close at 5,912.69. The broader all shares index likewise advanced.
READ: DOE: Big-time rollbacks bring fuel prices closer to prewar levels
According to Philstocks Financial Inc., bargain hunting remained the market’s primary driver after recent weakness pushed valuations to more attractive levels.
