PHILIPPINE SHARES may climb further this week after September headline inflation settled below 2% for the first time in over four years, bolstering bets of further interest rate cuts by the Bangko Sentral ng Pilipinas (BSP).
On Friday, the benchmark Philippine Stock Exchange index (PSEi) rose by 1.06% or 79 points to close at 7,467.92, while the broader all shares index went up by 1.48% or 58.99 points to end at 4,041.65.
This was the PSEi’s best finish in more than two-and-a-half years or since it closed at 7,502.48 on Feb. 9, 2022.
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