Investors disregard unemployment data as PSEi inches up

Philippine stocks saw a modest rebound on Wednesday after the government released data showing an uptick in unemployment, providing further clues on the health of the economy as investors bet on the outcome of the Bangko Sentral ng Pilipinas’ interest rate-setting meeting next week.

The benchmark Philippine Stock Exchange index (PSEi) rose 0.61 percent, or 41.82 points, to 6,923.08 while the broader All Shares index added 0.53 percent, or 19.26 points, to 3,675.01.

The Philippine Statistics Authority said on Wednesday the unemployment rate deteriorated to 4.3 percent from 4.2 percent in December.

This adds to data up for review by the BSP after the inflation print breached expec…

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