BSP rate hike rouses PSEi; buyers snap up ICTSI

MANILA -The benchmark Philippine Stock Exchange index (PSEi) reclaimed the 6,600 level on Friday after the Bangko Sentral ng Pilipinas (BSP) delivered an expected 25-basis point interest rate hike, while buying pressure pushed up billionaire Enrique Razon Jr.’s International Container Terminal Services, Inc. (ICTSI).

the closing bell, the PSEi climbed 1.01 percent, or 65.81 points, to 6,602.17 while the broader All Shares index added 0.69 percent, or 23.95 points, to 3,516.72.

“Investors resumed… bargain hunting after the [Monetary Board’s] rate hike announcement [on Thursday] afternoon. In line with consensus, the MB raised the benchmark rate by another 25 basis points to 6.2…

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