Philippine stock market bounces back after bout of profit-taking
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NewsTranscript
00:00The local stock market rebounded with the main index rising 96.12 points or 1.31% to
00:08close at more than 7,000 led by banks.
00:12Trading volume reached 1.18 billion shares worth 12.53 billion pesos.
00:19This recovery follows the Asian Development Bank's positive GDP growth forecast for the
00:25projecting 6% for the 2024 and 6.2% for 2025, easing inflation and expected policy changes
00:34that could boost domestic demand, contribute to a favorable economic outlook, enhancing
00:40investor confidence.