PHILIPPINE STOCKS rose on Wednesday on expectations of a rate cut from the Bangko Sentral ng Pilipinas (BSP) next month and as players picked up bargains.
The benchmark Philippine Stock Exchange index (PSEi) increased by 0.45% or 28.44 points to end at 6,313.12, while the broader all shares index climbed by 0.70% or 26.26 points to close at 3,749.35.
“The PSEi resumed gains after the latest dovish signals from local monetary officials…,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
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