Softer US inflation continues to buttress PH shares

Philippine stocks extended gains on Friday after the July inflation print in the United States came in lower than expected, raising hopes that consumer price increases that prevailed for most of the year would finally start easing.

The benchmark Philippine Stock Exchange (PSE) Index rose 0.28 percent, or 18.98 points, to 6,699.66 while the broader All Shares index added 0.38 percent, or 13.59 points, to 3,564.16.

“Philippine shares continued the rally to close the weekend on the back of a positive US inflation report,” Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said in a note to investors on Friday.

US inflation for July cooled to …

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