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MANILA, Philippines – Local stocks slipped on Tuesday as caution over renewed US-Iran conflict and rising oil prices weighed on investors’ sentiment.
The benchmark Philippine Stock Exchange Index (PSEi) slipped 0.15 percent, or 9.70 points, to close at 6,256.02.
READ: Trump vows to hit Iran ‘hard,’ impose Strait of Hormuz transit fees
Philstocks Financial Inc. research manager Japhet Tantiangco said the market’s sideways trading ultimately ended in negative territory as investors weighed the risks posed by the Middle East conflict.
