PSEi opens higher by 0.66%

MANILA, Philippines – The benchmark Philippine Stock Exchange Index (PSEi) opened higher by 0.66 percent to 6,259.62 on Tuesday as investors absorbed US President Donald Trump’s announcement of a supposed ceasefire between Israel and Iran.

READ: PSEi opened lower amid oil jitters

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said this was also the behavior of US equities overnight despite Iran’s attack on a US base in Qatar.

Still, foreign press reported that Trump had announced a “complete and total ceasefire” between Israel and Iran. This comes shortly after the United States bombed Iran’s nuclear sites, sending Philippine equities tumbling by nearly 2 percent on Monday.