Foreign buying supported the Philippine Stock Exchange Index on Monday, ending in the green for a second consecutive trading day.Claire Alviar, Philstocks Financial Inc. assistant manager for research and online engagement, said that net foreign buying of P391.21 million had buoyed the main index.
She added that investors had picked up shares on the “hopes that the Federal Reserve would slow down on future interest rate hikes.” This was after the Fed expressed the need to raise interest rates anew to control inflation.
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