Philippine shares rise for third straight session

Philippine shares rose for the third consecutive session on Monday, with the main index reaching its highest close in over three weeks.

The Philippine Stock Exchange Index (PSEi) increased by 0.32% to end at 6,625.17, while the broader All Shares Index climbed by 0.23%

Analysts attributed the rise to bargain hunting and optimistic expectations regarding December's inflation rate, which is forecasted within the Bangko Sentral ng Pilipinas' target range.

Investors are awaiting the release of December’s consumer price index data on Tuesday, along with other economic indicators from the US that could influence global interest rates.

Despite overall gains, most sectoral indices closed lower, while services and financials sectors showed positive performance.