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Market climbs back to 6,500-level
The Philippine Star
|June 07, 2024
Share prices rose for a second straight session, buoyed by hopes for a US Federal Reserve rate cut later this year.
The Philippine Stock exchange climbed back to the 6,500-level as it gained by 1.06 percent or 68.54 points to settle at 6,509.86.
The broader All Shares index, on the other hand, ended at 3,489.79, up by 1.05 percent or 36.10 points.
Philstocks Financial research and engagement officer Mikhail Plopenio said investors continued to digest the Philippines' May inflation data, which at 3.9 percent, remained within the government's two to four percent target range.
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