Local stocks edged higher Monday as investors await cues on US inflation and interest rates.
The 30-company Philippine Stock Exchange index rose 10.80 points, or 0.17 percent, to close at 6,233.74, while the broader all-shares index picked up 3.22 points to settle at 3,363.45. Regina Capital Development Corp. head of sales Luis Limlingan said the local shares went up as investors wait for fresh batch of economic data that could affect price activity this week.
Overseas investors anticipate the release of US August inflation rate, producer price index and retail sales. “Three straight months of gains in crude oil prices, stronger-than-expected services sector and lower jobless claims are fueling expectations for inflate to come in higher,” Limlingan said.
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