The Philippine Stock Exchange Index added 11.04 points, or 0.2 percent, to 6,448.46 on a value turnover of P4.7 billion. Gainers beat losers, 94 to 82, with 55 issues unchanged.
Hong Kong rose more than one percent with tourism-linked firms boosted by news that the city’s government was considering bringing an end to the hotel quarantine rules that have helped hammer the local economy. The Fed’s decision, however, is the main focus after figures last week showed prices are still rising at rates not seen since the early 1980s.
“We expect central bank tightening and a fading of supply chain pressures to moderate job growth and core inflation,” JPMorgan Chase & Co said, tipping it to end at 4.25 percent by early next year. It is also much higher than the 10-year yield, which is called an inversion and considered a key pointer to recession.