4 months PSEi hits 7,900 on lower inflation projection Manilatimes |Biz
LOCAL equities climbed to the 7,900 level on Tuesday as investors bought on expectations that inflation would likely ease further, coupled with month-end window-dressing. The benchmark Philippine Stock Exchange index (PSEi) grew by 0.71 percent or 55.70 points to close at 7,952.72, while the wider All Shares increased by 0.52 percent or 25.17 points to finish at 4,889.56. Regina Capital Development Corp. head of sales Luis Limlingan said market players loaded portfolios on expectations that consumer prices in April likely eased anew. On Tuesday, the Bangko Sentral ng Pilipinas’ (BSP) Department of Economic Research put inflation to as low as ... more