Philippine stocks flat, peso steady amid inflation data
Philippine stocks ended flat and the peso remained steady against the US dollar due to within-expected inflation data.
The PSE index closed at 6,881.37 points, down slightly from previous days.
Sectoral gauges showed mixed performance with Services and Financials sectors rising while Mining and Oil declined.
Economic analysts attributed the cautious sentiment to Fed Chairman Jerome Powell's statement on economic prospects and the rise in US Treasury bond yields.
The peso closed at 48.56 against the US dollar, influenced by factors such as vaccine arrivals and market optimism for an improved quarantine status.
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.