PH shares up on hopes inflation may finally begin slowing

The benchmark Philippine Stock Exchange index (PSEi) extended gains on Thursday as new inflation data came within expectations, raising hopes that the consumer price surges that defined much of the past year may have peaked. By the closing bell, the PSEi added 0.64 percent, or 42.83 points, to 6,761.33 while the broader All Shares index added 0.38 percent, or 13.38 points, to 3,550.45. Trading activity also inched higher with 1.85 billion shares valued at P6.89 billion changing hands while net foreign buying jumped to P907.86 million, data from the stock exchange showed. The Philippine Statistics Authority said inflation in December rose to 8.1 percent, bringing the full-year av...

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