STOCKS continued to rally on Thursday as December inflation came in below market expectations despite picking up from the November level.
Headline inflation picked up to 8.1% in December, a new 14-year high, amid higher food prices, the Philippine Statistics Authority reported on Thursday. “Moreover, Asian markets were also in the green as China’s Caixin services data show an improvement, shrugging off the Federal Reserve’s minutes that show higher interest rates may remain. This also gives a boost to the local market,” Ms. Alviar added.
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