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MANILA, Philippines – Local stocks rebounded on Wednesday as easing US inflation boosted risk appetite, although ongoing tensions in the Middle East subdued investor optimism.
The benchmark Philippine Stock Exchange Index (PSEi) climbed 0.74 percent, or 46.48 points, to close at 6,302.50, recovering from the previous session’s decline.
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According to brokerage Philstocks Financial Inc., the local market tracked Wall Street’s overnight gains after US inflation slowed more than expected.
