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PSEi edges past 6,300 as companies crush inflation monster

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The benchmark Philippine Stock Exchange index pushed past the 6,300 level on Monday as investors digested the latest batch of corporate earnings from some of the country’s top conglomerates.

By the closing bell, the PSEi added 1.08 percent, or 67.99 points, to 6,354.76 while the broader All Shares index rose 0.71 percent, or 23.70 points, to 3,352.59.Conglomerates GT Capital Holdings and Ayala Corp. announced better earnings, showing further evidence that local companies successfully managed challenges brought about by high inflation during the third quarter of the year.

Holding firms was the top gaining subsector on Monday. It was followed by industrial , property , financials and services while mining and oil fell .

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