SHARE prices closed higher for a fourth straight session Wednesday as investors bet on a possible policy rate cut by the Bangko Sentral ng Pilipinas (BSP) amid a low‑inflation environment and improving labor data.
The benchmark PSEi added 17.02 points, or 0.27 percent, to close at 6,370.65, while the broader All Shares rose 9.02 points, or 0.24 percent, to 3,779.96.
Gainers outnumbered losers, 93 to 84, with 63 issues unchanged.
Trading value reached P6.78 billion from 664.92 million shares across 79,538 transactions.
Foreign investors were net buyers by P211.85 million, with total purchases at P2.97 billion against P2.76 billion in sales.
“The PSEi dipped at the open but eventually gained momentum to end the day up,” SB Equities Inc. said, noting support from net foreign inflows.
Luis Limlingan, managing director at Regina Capital Development Corp., said sentiment was buoyed by “growing optimism regarding lower inflation, which could influence the BSP’s decision in its upcoming meeting.”
Japhet Tantiangco, research manager at Philstocks Financial Inc., said the market continued to cheer July’s 0.9 percent inflation print and the potential for further monetary easing.
“Investors also appreciated the improvements in our labor market last June, with the employment rate rising from 96.1 percent (in May) to 96.3 percent,” he added.
