PSE index inches up before central bank meetings

THE MAIN INDEX inched up on Tuesday on last-minute buying, with the market in a mostly guarded mood before the policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).

- Alexandria Grace C. Magno with Reuters

The Philippine Stock Exchange index (PSEi) climbed by 0.46% or 27.42 points to end at 5,976.64. Meanwhile, the broader all shares index decreased by 0.33% or 11.47 points to 3,466.21.

“The local bourse moved relatively flat and quiet for today’s session as investors remained cautious. Market participants are closely monitoring the upcoming BSP and US Federal Reserve policy decisions as traders are likely waiting for clearer signals before taking stronger positions,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

The Fed was set to begin its two-day policy meeting overnight, where it is widely expected to lower borrowing costs.