The benchmark Philippine Stock Exchange index went up by 20.31 points or 0.30% to close at 6,597.76 on Wednesday, while the broader all shares index improved by 3.64 points or 0.10% to 3,554.04.
US Treasury yields fell to one-month low on Tuesday after housing data pointed to a cooling economy as the Federal Reserve presses on with aggressively hiking interest rates to tackle soaring inflation, Reuters reported. Asia stocks rose on Wednesday even as central banks piled into aggressive rate hikes to battle soaring inflation and left investors worried about slower global growth.
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