Political unrest in South Korea impacts Philippine stock market
inquirer.net — December 4, 2024, 08:01 PM UTC
The Philippine Stock Exchange Index (PSEi) closed slightly lower on Wednesday, dropping 0.06 percent to 6,729.96. This decline followed political unrest in South Korea, where President Yoon Suk Yeol briefly declared emergency martial law, which was quickly overturned by lawmakers. Investors are also awaiting inflation data set to be released on December 5. Analysts expect inflation to rise compared to October but remain within the government's target range of 2 to 4 percent. Despite the overall market trend, shares of banks and services companies saw gains. The Bank of the Philippine Islands rose 0.63 percent, while other major stocks had mixed results, with more gainers than losers overall.