PHILIPPINE STOCKS advanced on Monday as investor sentiment was lifted by expectations of further local interest rate cuts and after the US delayed the implementation of its planned reciprocal tariffs to Aug. 1.
The bellwether Philippine Stock Exchange Index (PSEi) rose 0.46% or 29.67 points to 6,425.24, while the broader all-share index added 0.4% or 15.22 points to 3,779.93.
“The local market closed higher, backed by dovish expectations on the Bangko Sentral ng Pilipinas’ (BSP) policy outlook following June’s weak inflation print,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.
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