Philippine stocks climbed Friday after the headline inflation rate dropped to 1.9 percent in September 2024, the lowest in 52 months.
Four of six sectoral indices ended in the green, with industrial rising by 1.93 percent and financials increasing by 1.50 percent.Value turnover was moderate at P5.91 billion, with 107 advancers and 87 decliners. The stimulus — mainly targeting the property sector — has seen stocks in the city and mainland China enjoy a blistering run of more than 20 percent on hopes that Beijing can finally reignite growth.
Singapore, Seoul, Wellington, Bangkok and Manila rose along with London, Paris and Frankfurt, though Sydney, Taipei, Mumbai and Jakarta edged down. Both main contracts rocketed around five percent Thursday when US President Joe Biden said he was “discussing” possible Israeli strikes on Iranian oil sites in retaliation for Tehran’s barrage. However, they were essentially flat in Asian trade.