STOCKS inched lower on Thursday as investors digested the latest US consumer inflation data and their potential impact on the US Federal Reserve’s policy decision next week.
The Philippine Stock Exchange index (PSEi) slipped by 0.02% or 1.36 points to end at 6,641.35 on Thursday, while the broader all shares index dropped by 0.06% or 2.48 points to close at 3,756.07.
“Philippine shares mirrored the mixed results of the US markets as investors processed the latest CPI (consumer price index) figures. November’s CPI report matched economists’ expectations, fueling optimism for another rate cut from the Fed during its policy meeting next week,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
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