<p><strong>GLOBAL: US President Donald Trump has rejected a truce proposal from Iran, </strong>which Iranian officials stated could have led to the reopening of the Strait of Hormuz within seven days.</p>

<p><strong>Market impact: Oil prices advanced while US stock futures declined </strong>following the rejection of Iran's proposal.</p>

<p><strong>President Trump is skeptical that Iran would meet his demands</strong> and expects to renew US bombing campaigns.</p>

<p><strong>LOCAL: The Bangko Sentral ng Pilipinas’ business confidence index improved to -10.9% in August </strong>due to higher demand for essential commodities and construction activities.&nbsp;</p>

<p><strong>Market impact: The PSEi advanced on bargain hunting,</strong> <strong>while the peso strengthened</strong> amid an initial correction in global oil prices.</p>

<p><strong>Optimism for the next three months surged, driven by the upcoming holiday season and the rice harvest, </strong>which traditionally spur demand for consumer and financial products.</p>