Local shares kept their upward momentum, sending the benchmark Philippine Stock Exchange index above the 6,600 level as concerns about inflation and interest rates abate.
The 30-company gauge rose 46.30 points, or 0.70 percent, to close at 6,624.70, while the broader all-shares index advanced 18.75 points, or 0.54 percent, to 3,515.81.
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Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., said investors were bullish on the outcome of the US price index.
Ravelas said the index would likely test the 6,650 to 6,700 levels in the near term.
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