PSEi climbs to 7,800 as investors cheer lower inflation
Credit to Author: ANGELICA BALLESTEROS, TMT| Date: Fri, 04 Jan 2019 04:47:21 +0000
THE stock market jumped to the 7,800 territory in early trading on Friday as investor sentiment was buoyed by the lower-than-expected inflation figure.
At the noon break, the Philippine Stock Exchange index (PSEi) increased by 1.57 percent or 120.90 points to 7,801.50, while the broader All Shares grew by 1.19 percent or 55 points to 4,665.28.
Philstocks Financial Inc. research associate Piper Chaucer Tan said that market players reacted positively to the December inflation data, which further eased to 5.1 percent from 6 percent in the month prior.
It was also lower than the 5.2 percent to 6 percent target range of the Bangko Sentral ng Pilipinas.
All sectors were in the green territory, with the mining and oil index up the most by 2.08 percent.
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