ICTSI shares surge following ‘shallow’ US recession forecast

The Philippine Stock Exchange Index (PSEi) saw a modest rebound from the previous session's selloff while billionaire Enrique Razon Jr.'s International Container Terminal Services Inc. (ICTSI) rallied despite global recession concerns. By the closing bell, the PSEi rose 0.84 percent, or 54.96 points, to 6,580.12 while the broader All Shares index added 0.34 percent, or 11.54 points, to 3,437.40. PSE subsectors were mainly higher as services took the lead with a gain of 2.63 percent. It was followed by holding firms, up 1.27 percent; mining and oil, up 0.63 percent and property, up 0.1 percent. Industrial and financial stocks sank 0.46 percent and 0.21 percent, respectively. ICTS...

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