MANILA—Local stocks rose Monday in line with most Asian markets on hopes the US Federal Reserve may pause monetary tightening in response to weak jobs data.
The 30-company Philippine Stock Exchange index climbed 33.62 points, or 0.54 percent, to close at 6,214.68, while the broader all-shares index picked up 14.47 points to settle at 3,356.44.
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China Bank Capital managing director Juan Paolo Colet said traders took their cue from the latest US employment report and news the one of China’s largest property developers won a debt payment reprieve from bonds holders.
Colet said, however, that investors remained generally cautious ahead of the release of Philippine August inflation report.
