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Stocks extend climb ahead of BSP policy review

​ PHILIPPINE SHARES continued to climb on Wednesday as the rise in global coronavirus cases slowed and on expectations that the central bank will keep rates low at its meeting today. The benchmark Philippine Stock Exchange Index (PSEi) rose by 16.6 points or by 0.23% to 7,082.15, while the all shares index increased by 10.88 points or 0.25% to 4,260.81. “The PSEi continued higher today as more investors turned optimistic, brought by a decline in new global COVID-19 cases. This renewed optimism has encouraged investors that were on the sidelines to take a second look at the market. Even foreign investors were net-buyers today after months and months of heavy selling,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail on Wednesday.

Stocks drop on profit taking, higher gov t debt

February 3, 2021 | 9:00 pm Font Size AAA THE MAIN INDEX ended in negative territory on Wednesday following news on the government’s outstanding debt and as investors booked their profits after the market’s two-day rally. The benchmark Philippine Stock Exchange index (PSEi) fell 8.42 points or 0.12% to finish at 6,859.46, while the broader all shares index dropped 0.91 points or 0.02% to end at 4,143.26. Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a mobile phone message that the market ended lower following the release of data on the government’s outstanding debt. “Concerns over the jump of our national government’s outstanding debt and its possible repercussions to the economy weighed on (market) sentiment,” Mr. Tantiangco said.

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