Local index bounces back; peso appreciates on US Fed rate cut
MANILA – The local bourse bounced back to above 7,200-mark on Thursday while the peso also appreciated following the monetary policy easing in the United States. The Philippine Stock Exchange index (PSEi) increased 0.65 percent to 7,202.16, with All Shares improving by 0.62 percent to 3,871.68. Except for Industrial which declined by 0.12 percent, all counters closed in the green territory led by Mining and Oil, which rose 2.43 percent. This was followed by Financials, up by 1.95 percent; Property, up by 0.93 percent; Services, up by 0.19 percent; and Holding Firms, up by 0.04 percent. ‘Philippine shares closed above