6 days Shares surge on surprise rate cut Manilatimes |Biz
Local shares finished the trading week in the 7,100 area, buoyed by the Bangko Sentral ng Pilipinas’ (BSP) surprise move to slash its interest rates to a record low the day before. The benchmark Philippine Stock Exchange index (PSEi) rose by 2.46 percent or 172.17 points to end at its intraday high of 7,169.79 while the wider All Shares jumped by 2.23 percent or 91.85 points to close at 4,219.39. The last time the main index breached the 7,100 level was on February 24, when it finished at 7,187.44. Regina Capital Development Corp. Managing Director Luis Limlingan reported that ... more