PSEi tumbles on fading hopes for US-Iran peace deal

MANILA, Philippines – Local stocks extended losses on Thursday as investors grew cautious over the escalating US-Iran conflict, dampening hopes for a peace deal and driving oil prices higher. The benchmark Philippine Stock Exchange Index (PSEi) slid 1.73 percent or 103.30 points, to close at 5,859.94. READ: US strikes Iran, drawing retaliatory attack on American base