MANILA – The Philippine Stock Exchange index (PSEi) closed higher on Friday following the better-than-expected September inflation data, while the peso was almost flat.
The PSEi went up by 1.07 percent to 7,467.92, while All Shares, likewise, rose 1.48 percent to 4,041.65.
"Philippine shares were bought up towards closing as investors were positively surprised by the latest Ph CPI print for September, which came in at just below 2 percent, giving the monetary authority greater control on when to relax interest rates," Regina Capital Development Corp. managing director Luis Limlingan said.
Headline inflation fell to a four-year low of 1.9 percent in September.
Except for Mining and Oil and Property, all Sectors closed in the green led by Industrial, which went up by 1.93 percent.
Advancers edged decliners at 107 to 87, leaving 52 counters unchanged.
The peso, meanwhile, slightly appreciated, closing at 56.295 to the US dollar from its 56.37 finish on Thursday.
It opened the day at 56.38 and traded between 56.23 and 56.4.
The day’s weighted average was 56.328.
Volume of trade went down to USD1.51 billion from USD1.72 billion the previous day. (PNA)
