The benchmark Philippine Stock Exchange index gained 8.34 points, or 0.12 percent, to close at 6,856.77, while the broader all-shares inched up by 5.62 points, or 0.16 percent, to finish at 3,572.10.
Meanwhile, Asian markets mostly rose Wednesday as traders tracked another record day on Wall Street ahead of the Federal Reserve’s policy meeting, while the yen further weakened a day after Japan’s rare interest rate hike.US monetary policymakers are widely expected to hold borrowing costs at a two-decade high, but traders will also be watching the “dot plot” of projections for how many cuts they see this year.
Some market participants are also concerned that the first reduction — anticipated by many to come in June — could be pushed back. Hong Kong, Shanghai, Mumbai, Seoul, Singapore, Wellington and Manila rose, but there were losses in Sydney, Taipei, Jakarta and Bangkok.London dipped at the open even as data showed UK inflation fell more than expected last month.The yen weakened further after the Bank of Japan suggested that Tuesday’s interest rate hike — its first in 17 years — would not likely be followed by any more any time soon.