Bargain-hunting lifts stock market but peso weakens

By The Manila Times

Jul 27, 2023 12:34 am

THE peso fell, but the stock market managed to eke out a last-minute gain on Wednesday ahead of an expected interest rate hike by the US Federal Reserve (Fed).

The currency weakened by 7 centavos to P54.62 versus the dollar while the benchmark Philippine Stock Exchange index (PSEi) added 18.02 points, or 0.27 percent, to close the day at 6,679.13.

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