PSEi bucks regional decline to hit year high; peso plunges

By The Manila Times

Sep 10, 2024 12:21 am

THE stock exchange rose to its highest so far for the year on Monday, buoyed by favorable economic data and prospects of a US Federal Reserve rate cut, even as the peso plunged back to the P56:$1 level.

The benchmark Philippine Stock Exchange index (PSEi), which hit an intraday high of 7,025.46, pared back gains late in the session to end the day 48.16 points or 0.69 percent higher at 6,984.25.

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