PHILIPPINE STOCKS inched up on Tuesday as the market maintained a cautious stance while awaiting developments in the Middle East conflict.
The benchmark Philippine Stock Exchange index (PSEi) climbed by 0.16% or 9.54 points to close at 5,957.87, while the broader all shares index went up by 0.39% or 13.17 points to end at 3,350.16.
“The local market traded sideways as investors digested the Philippines’ March inflation rate which came in at 4.1%, exceeding the government’s 2%-4% target. In the end, however, bargain hunting prevailed, causing the local bourse to have a positive close,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a market note.
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