Local stocks extended their losses Tuesday, as the April inflation rate came in a little higher than the previous month’s level.
Philstocks Financial Inc. research analyst Mikhail Plopenio said investors exercised caution amid the continuous climb in inflation rate, which is now nearing the upper end of the government’s target range of 2 percent to 4 percent. Positive soundings out of Beijing on help for the world’s number two economy and very low valuations after years of selling are also injecting some much-needed life into Hong Kong and mainland Chinese markets.
That tempered a lot of the volatility in markets caused by wild fluctuations in the yen at the start of last week that reportedly prompted two Japanese interventions.
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