Overnight Market Snapshot – September 10, 2013

The US equity markets (DJIA +0.94%, S&P 500 +1.00%, Nasdaq +1.26%) including emerging market shares like the iShares MSCI Philippine Index ETF (EPHE +3.19%) and Philippine Long Distance Telephone Company ADRs (PHI +2.00%) rose sharply last night on easing concerns of a US military strike in Syria and on a better-than-expected exports data of China for the month of August. Renewed optimism in the markets may spill over in today’s trading in the local market and the PSEi may get some lift as well.

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