Philippine Stocks Rise in Anticipation of BSP’s Monetary Decision

The Philippine Stock Exchange index witnessed a gain, closing at 6,191.48, which is a 0.33% increase. This upward trend was influenced by investor expectations of a halt in the Bangko Sentral ng Pilipinas (BSP) interest rate hikes.

The broader All Shares index also rose by 0.20%. Market sentiment was positively affected by Wall Street’s performance and the decline in the US producer price index for October.

Mikhail Plopenio of Philstocks Financial noted the local market’s growth due to these external factors and the anticipation of BSP’s monetary policy decision​​.

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