Philippine stocks rose Tuesday amid thin trading

The Philippine Stock Exchange index, the 30-company benchmark, rose 18.92 points, or 0.30 percent, to close at 6,398.64 amid thin trading Tuesday.

Philstocks Financial Inc. analyst Claire Alviar said the index tracked the performance of Wall Street overnight, driven by bargain hunting.

The market traded above 6,400 level for most part of the day, but still closed a few points lower as market participation remained weak with net value turnover of P2.81 billion.

Rizal Commercial Banking Corp. chief economist Michael Ricafort said the index gained ahead of the US June inflation report which is expected by the markets to ease towards 3 percent from 4 percent in May.