Local shares seen to slip ahead of US inflation - BusinessWorld Online

The Philippine Stock Exchange index closed at 6,780.78 on Nov. 29, the last trading day of November, up by 10.2% from its finish of 6,153.43 on Oct. 28.

Separately, COL Investment Management, Inc. said via e-mail that the PSE index had shown “resilience” over the past two to three weeks. The US consumer price index rose 0.4% in October. In the 12 months through October, the CPI increased 7.7%, slower than the 8.2% logged in September. Mr. Mercado said that US November inflation data will continue to influence the local market for December.

The US Fed raised borrowing costs by 75 basis points for a fourth consecutive time in November. So far, the Fed has hiked rates by 375 bps since March and is expected to deliver smaller increases on its next policy meeting set on Dec. 13-14.

Source: News Formal (newsformal.com)

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