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Philippine stocks bounced back Thursday as investors digested the latest inflation rate from the United States.
The main composite index jumped 59.22 points, or 0.96 percent, to close at 6,208.40, while the broader all-shares index rose 22.50 points to settle at 3,353.31.
Analysts said investors were expecting the Federal Reserve to keep interest rates unchanged despite the slight increase in US inflation in August.
Inflation reached 3.7 percent in August, above the market estimate of 3.6 percent.
Regina Capital Development Corp. head of sales Luis Limlingan said the market would now await the report on the US Producer Price Index which could give more guidance on the Fed’s next policy action.