PHILIPPINE STOCKS extended their climb on Monday as investors bought bargain stocks and on expectations of slower headline inflation in July.
The bellwether Philippine Stock Exchange index (PSEi) increased by 0.67% or 42.52 points to close at 6,348.65, while the broader all shares index climbed by 0.39% or 14.93 points to 3,766.60.
“The local market’s sideways movement ended in the positive territory as investors continued with their bargain hunting,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.
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