PSEi extends slump on rate hike, inflation fears

MANILA, Philippines — The Philippine Stock Exchange Index (PSEi) extended losses on Friday as investors digested the Bangko Sentral ng Pilipinas’ (BSP) latest rate hike and rising inflation expectations. The benchmark index fell 0.67 percent or 40.32 points to close at 5,943.49. Philstocks Financial research manager Japhet Tantiangco said the decline came after the BSP raised policy rates by 25 basis points. This prompted investors to reassess risk amid tighter financial conditions. READ: BSP delivers first interest rate hike in 2 years Tantiangco said market sentiment was also dampened by expectations of higher inflation. The BSP is projecting average inflation […]... Keep on reading: PSEi extends slump on rate hike, inflation fears

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