The Philippine Stock Exchange Index rose 28.74 points, or 0.4 percent, to 6,434.24 on a value turnover of P7.9 billion. Gainers beat losers, 113 to 55, with 55 issues unchanged.
The rest of Asian markets were mixed Monday and the dollar held big gains as a blockbuster US jobs report ramped up bets that the Federal Reserve will announce more sharp interest rate hikes as it tries to tame runaway inflation.The jobs figures left Wall Street’s main indexes mixed Friday, and Asia followed suit with markets fluctuating in early trade.
Singapore, Taipei, Bangkok, Jakarta, and Wellington were also down, but Tokyo, Sydney, Seoul, and Mumbai edged up. Traders have hoped that with several indicators pointing to a slowdown, including GDP figures showing a technical recession, policymakers could begin to ease back on their pace of rate hikes.