The Philippine Stock Exchange index (PSEi) went up by 142.50 points or 2.28% to close at 6,379.26 on Thursday, while the broader all shares index increased by 54.38 points or 1.61% to 3,424.96. READ:
The Philippine Stock Exchange index went up by 142.50 points or 2.28% to close at 6,379.26 on Thursday, while the broader all shares index increased by 54.38 points or 1.61% to 3,424.96.
“The local bourse notched a winning session, following a widely expected 75-bp rate hike from the Fed. Chairman Jerome Powell hinted that the central bank could slow the pace of tightening by the next policy meeting,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
He said investors are waiting for the release of US second quarter gross domestic product data to gauge the state of the world’s largest economy. After the meeting, Mr. Powell said while the labor market remains strong, other economic indicators have softened. He also hinted at an eventual slowdown in hikes.
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