Stocks rally on cooler US inflation rate

The main index jumped 119.20 points or 1.93 percent to close at 6,286.77as Conglomerates and the Property sector led the rally. Volume improved to P4.92 billion as gainers beat losers 125 to 58 with 40 unchanged.“Philippine stocks rallied, fueled by a better-than-feared US inflation print, giving investors the idea that the overall prices of goods may be cooling,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

She explained that, “If the US inflation continues to ease, Federal Reserve’s rate hikes may slow down which could positively impact our peso.”

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