Cautious trading yields modest PSEi gains

The benchmark Philippine Stock Exchange Index (PSEi) saw modest gains as investors made cautious bets ahead of the release of US inflation data on Thursday. The PSEi briefly traded above 5,900 before closing at 5,895.64, up 0.72 percent or 42.01 points, while the broader All Shares index added 0.29 percent, or 9.17 points, to 3,164.75. US inflation in September likely heated up to 8.1 percent from the previous year but lower than the 8.3 percent recorded in the previous month of August, according to a forecast from Reuters. Investors were also hoping a bigger consumer price jump might convince the influential US Federal Reserve to slow its pace of aggressive interest rate hikes whi...

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