6 months PSEi flat, traders on wait-and-see mode Manilatimes |Biz
THE local stock market finished slightly higher on Monday as investors stayed on the sidelines ahead of the Federal Reserve’s two-day meeting. The benchmark Philippine Stock Exchange index (PSEi) rose by 0.06 percent or 4.53 points to close at 8,188.52 while the wider All Shares grew by 0.15 percent or 7.44 points to end at 4,963.04. AAA Southeast Equities Inc. research head Christopher Mangun said investors went on a last-minute buying while on a wait-and-see mode ahead of the Fed’s policy meetings on July 30 and 31, where a quarter-point rate cut is expected.
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