PSEi rebounds on bargain hunting, BSP remarks

MANILA, Philippines — Local stocks rebounded on Wednesday as bargain hunting offset the previous session’s losses, while expectations of a less aggressive monetary stance from the Bangko Sentral ng Pilipinas (BSP) boosted sentiment. The benchmark Philippine Stock Exchange Index (PSEi) climbed 0.78 percent, or 49.01 points, to close at 6,353.04. READ: Remolona sees ‘little chance’ of aggressive interest rate hikes Philstocks Financial Inc. said investors also digested remarks from BSP Governor Eli Remolona Jr., who indicated there was only a small chance that the central bank would pursue an aggressive policy tightening path. Still, market participation remained cautious as investors awaited […]...

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