Philippine Stocks Surge Most in Asia Amid Duterte’s China Trip
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Philippine stocks advanced the most in five months amid optimism that President Rodrigo Duterte’s visit to China will improve relations and yield a raft of business deals.
The Philippine Stock Exchange Index rose 2.9 percent to 7,571.15 at the close of trading in Manila at 3:30 p.m. local time, the steepest gain since May 11. SM Prime Holdings Inc., which has malls in the Philippines and China, jumped 6.5 percent, while restaurant operator Jollibee Foods Corp. added 4 percent.