Stocks bounce back strongly, peso recoversThe peso also strengthened against the dollar, recovering from a record low in the previous session as the local currency gained ground amid easing pressure in the foreign exchange market. The peso also strengthened against the dollar, recovering from a record low in the previous session as the local currency gained ground amid easing pressure in the foreign exchange market. The bellwether Philippine Stock Exchange index (PSEi) surged by 2.01 percent or 120.44 points, settling at 6,126.66. The broader All Shares index also bounced back, climbing by 1.82 percent or 60.86 points to end yesterday’s session at 3,407.61. Meanwhile, data from the Bankers Association of the Philippines showed the peso closed at 58.896 per dollar, stronger by about 60 centavos from Monday’s record low finish of 59.50.
