Atin Ito First Filipino Community Newspaper in Ontario
Philippine stocks rose Monday as investors await the November inflation data.
The Philippine Stock Exchange index climbed 13.83 points, or 0.22 percent, to close at 6,259.01, while the broader all-shares index inched up by 5.03 points, or 0.15 percent, to settle at 3,337.25.
“Philippine shares made another challenge towards the 6,300 level, as investors get ready for another round of economic data to cap off the year,” Regina Capital Development Corp. head of sales Luis Limlingan said.
The Philippine Statistics Authority (PSA) will release the November inflation figure on Tuesday.
Analysts said that aside from the crucial inflation report, other economic data slated for release this week are the unemployment rate (Dec. 7), gross international reserves level (Dec. 7) and foreign direct investments (Dec. 8).
Meanwhile, the Philippine peso also moved up Monday on expectations of strong remittance inflows ahead of the holiday.
The peso closed at 55.34 against the US dollar, up from 55.40 on Friday. — Jenniffer B. Austria
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