Share as a sharing of the Middle East ceasefire enhancement of sentiment
Philippines stocks climbed Tuesday after news that Iran and Israel agreed to a ceasefire after nearly two weeks of exchange.
The benchmark Philippine Stock Exchange Index (PSEI) rose 1.19% or 74.47 points to close at 6,292.75, while all stock indexes rose 0.88% or 32.64 points to 3,739.20. The PSEI returned to the 6,300-level indoors, hitting the high of 6,331.02 as the ceasefire strengthened market sentiment.
“The local market rebounded under the hope of peace between Israel and Iran, driven by hopes of peace between Israel and Iran. This is the announcement by U.S. President Donald J. Trump announced a ceasefire between the two countries,” Japhet Louis O. Tantianco, research manager at Philstocks Financial Inc., said in a Viber message. “To be effective, global oil prices have fallen, and investors are cheering for it.”
Global stock markets soared, with oil prices falling on Tuesday after the ceasefire, hoping it heralds a resolution to the war two days after the U.S. joined the Iranian nuclear site, Reuters reported.
But Israeli Defense Minister Katz said on Tuesday that he ordered the military to attack Tehran in response to what he said was a missile launched by Iran, violating the ceasefire announced by Mr. Trump several hours ago.
Iran denies breach of the ceasefire. Iran News reported that the General Staff of the Armed Forces denied that any missiles had been fired at Israel in recent hours.
These developments have caused early suspicion of the ceasefire, with the aim of ending the war for 12 days.
“The Philippines stocks and Wall Street trade higher, shrugged, shrugged, and striked at the U.S. base in Qatar,” Regina Capital Development Company Luis A. Limlingan said in a Viber message.
He added: “The market is now waiting for Fed Chairman Jerome H. Powell.
Last week, the FAP left its overnight target rate range 4.25% and 4.5%.
Almost all sector indexes were closed on Tuesday. Finance climbed 2.59% or 58.86 points to 2,323.94; industrial ships rose 1.41% or 126.27 points to 9,066.70; services rose 0.72% or 15.66 points to 2,171.42; holding companies increased 0.61% or 32.60 points at 5,358.56; property increased 0.22% or 4.94 points to 2,208.23.
Meanwhile, mining and oil fell 2.04% or 203.32 points, ending the meeting with a score of 9,748.75.
The value of the value of Tuesday fell to Pes 5.81 billion on Tuesday, exchanging 1.13 billion shares from 6.29 billion shares and trading 1.03 billion offerings on Monday.
The number of progressivers exceeded that of deleted ones, 122 to 73, while 54 names did not change.
Net foreign sell-off was 286.3 million ppg on Tuesday, which was recorded on Monday at 108.27 lakh. – Revin Mikhael D. Ochave and Reuters
