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Stocks trade higher ahead of US jobs report

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Philippine stocks traded higher on the last trading day of the week ahead of key jobs report from the United

The 30-company Philippine Stock Exchange index inched up 5.81 points, or 0.09 percent, to close at 6,181.06, while the broader all-shares index rose 7.19 points to finish at 3,341.97.

Regina Capital Development Corp. head of sales Luis Limlingan said investors were awaiting the August employment data, as a sharp fall in job openings could increase the likelihood of US Federal Reserve implementing a rate hike pause. “Traders are holding onto hope that the report will indicate that the economy is slowing meaningfully and ultimately give the Fed reason to pause benchmark interest rate hikes,” Limlingan said.

 

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