PHILIPPINE STOCKS may advance this week as market sentiment is expected to get a lift from the country’s removal from dirty money watchdog Financial Action Task Force’s (FATF) “gray list” and after the central bank said it would cut banks’ reserve requirement ratios (RRR) next month.
On Friday, the benchmark Philippine Stock Exchange index (PSEi) climbed by 0.51% or 31.41 points to close at 6,098.04, while the broader all shares index dropped by 0.30% or 11.34 points to 3,660.28.
Week on week, the PSEi went up by 0.61% or 36.71 points from its 6,061.33 finish on Feb. 14.
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