PSEi treads water as investors brace for Fed rate hike

MANILA - Philippine stocks were little changed on Wednesday as investors brace for anticipated interest rate adjustments by the US Federal Reserve later in the day. The benchmark Philippine Stock Exchange index (PSEi) rose 0.24 percent, or 15.52 points, to 6,546.27 while the broader All Shares index was up 0.19 percent, or 6.47 points, to 3,499.97. "Investors are looking forward to the latest update from [US Federal Reserve], at the conclusion of its two-day policy meeting on Wednesday. Most investors expect the central bank to stay committed to its tightening and raise rates by 25 basis points," Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Developm...

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