Philippine stocks traded higher Monday, pushing the benchmark index near the 7,000 level on strong buying from domestic from local and overseas investors.
Regina Capital Development Corp head of sales Luis Limlingan said investors continued to buy into the local market with many expecting foreign funds flow on the back of strong economic data in the country versus the rest of the region. The highly anticipated report Friday showed an estimated 142,000 jobs were created in the United States last month, up on July but well off forecasts.
With the central bank set to decide next week, debate is centered on whether it will reduce rates by 25 or 50 basis points.
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