PSEi recovers, but 6,700 ascent remains tricky

MANILA —The Philippine Stock Exchange Index (PSEi) rebounded above 6,600 as the market awaited catalysts, such as the latest US inflation print.

The PSEi rose 1.03 percent, or 67.62 points, to 6,613.73 while the broader All Shares index climbed 0.75 percent, or 26.12 points, to 3,495.76.

Most large cap stocks traded in a narrow range throughout as investors stayed on the sidelines ahead of the US inflation report. Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., also noted the market was “encountering some difficulty breaking above the 6,700 levels.”

READ: Asian shares rise after Wall St nears record; markets eye inflation report

Removing block sales, trading …

Keep on reading: PSEi recovers, but 6,700 ascent remains tricky