PSEi tumbles on fading hopes for US-Iran peace deal

MANILA, Philippines – Local stocks extended losses on Thursday as investors grew cautious over the escalating US-Iran conflict, dampening hopes for a peace deal and driving oil prices higher. The benchmark Philippine Stock Exchange Index (PSEi) slid 1.73 percent or 103.30 points, to close at 5,859.94. READ: US strikes Iran, drawing retaliatory attack on American base Brokerage Philstocks Financial Inc. said sentiment weakened after the latest exchange of military force between the US and Iran raised concerns over prolonged geopolitical instability and its impact on global energy markets. Luis Limlingan, head of sales at Regina Capital Development Corp., said rising oil […]... Keep on reading: PSEi tumbles on fading hopes for US-Iran peace deal

Original source: Philippine Daily Inquirer