Philippine stocks rebounded Tuesday as traders take position ahead of the release of the US November inflation data and the policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas.
The Philippine Stock Exchange index climbed 64.10 points, or 1.03 percent, to close at 6,292.39, while the broader all-shares index added 25.81 points, or 0.78 percent, to finish at 3,353.46.
China Bank Capital managing director Juan Paolo Colet said the index surged near the market closing as investors await the release of US inflation data which could offer cues on future rate hike adjustments.
Colet noted, however, that many investors were still opting to stay on the sidelines until they digested this week’s key economic events.
Value turnover was thin at P2.8 billion.