The bellwether Philippine Stock Exchange index climbed 11.91 points, or 0.19 percent, to close at 6,264.07, while the broader all-shares index inched up by 6.22 points to finish at 3,386.27.
Meanwhile, Asia equities mostly rose Tuesday after top Federal Reserve officials suggested the recent spike in US Treasury yields could act as a substitute for further interest rate hikes. “Looking ahead, I will remain cognizant of the tightening in financial conditions through higher bond yields and will keep that in mind as I assess the future path of policy,” he told a National Association for Business Economics conference in Dallas.
While the US economy remains in rude health, fears had been rising that more tightening would eventually tip it into recession next year.