The benchmark Philippine Stock Exchange index gained 44.62 points or 0.74% to end at 6,073.41 on Tuesday, while the broader all shares index rose by 16.45 points or 0.51% to close at 3,233.12.
AP Securities, Inc. Equity Research Analyst Carlos Angelo O. Temporal likewise said in a Viber message that stocks rose as investors positioned “in anticipation of potentially stellar third-quarter earnings.” BSP Governor Felipe M. Medalla on Monday said the central bank may need to raise rates by more than 100 bps at its last two meetings this year on Nov. 17 and Dec. 15, depending on the Fed’s aggressiveness.
Back home, the majority of sectoral indices ended higher on Tuesday. Financials went up by 22.25 points or 1.45% to finish at 1,556.29; holding firms added 50.36 points or 0.87% to end at 5,805.74; property gained 20.32 points or 0.77% to 2,655.04; and industrials climbed by 56.28 points or 0.64% to 8,770.44.