PSEi climbs back to 7,000 despite higher inflation

The Philippine Stock Exchange index (PSEi) climbed back to 7,000 on Friday, gaining 1.67% or 115.43 points to close at 7,019.18.

Despite January's higher-than-expected inflation rate of 4.2%, investors continued bargain hunting and followed positive regional market trends.

All sectoral indexes ended the week up, with Property leading gains by 2.34%.

Regina Capital Development Corp.'s Luis Limlingan noted that good corporate earnings and economic data boosted regional markets, encouraging local investors to continue buying stocks.