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MANILA, Philippines – Local stocks extended their gains on Monday as easing tensions in the Middle East buoyed investor sentiment, although many investors stayed on the sidelines amid lingering uncertainty in the region.
The benchmark Philippine Stock Exchange index (PSEi) climbed 1.01 percent, or 61.17 points, to close at 6,133.41.
READ: US, Iran agree to pause attacks, meet in Qatar – US media
According to Philstocks Financial Inc., the market drew support after the United States and Iran agreed to halt military exchanges and resume negotiations following heightened tensions over the weekend.
