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MANILA, Philippines – Local stocks bounced back on Tuesday as investors welcomed signs of easing conflict in the Middle East, which helped pull down global oil prices and improve risk appetite across markets.
The benchmark Philippine Stock Exchange Index (PSEi) climbed 1.13 percent or 66.30 points, to close at 5,945.71, recovering from the previous session’s decline.
READ: DOE eases control over oil price adjustments
According to Philstocks Financial Inc., sentiment improved after Iran halted its military strikes against Israel, easing concerns over potential disruptions to global energy supplies.
