The Philippine Stock Exchange index fell below the 6,000 level Friday as investors digested the 25 basis-point interest rate hike implemented by the Bangko Sentral ng Pilipinas .
Meanwhile, Asian markets rose Friday after strong earnings from two tech titans provided hope for a bounce on Wall Street, while traders were also steeling themselves for key US inflation data. All three main indexes sank Thursday, with the Nasdaq again the worst performer owing to tech firms’ susceptibility to higher borrowing costs.
Officials have lined up in recent months to say that while there might not be any more cuts, rates could be kept at two-decade highs for an extended period.
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