Philippine stocks rose Tuesday as investors welcomed the positive news about net inflows of foreign direct investments (FDI) in the Philippines.
The bellwether Philippine Stock Exchange index added 20.10 points, or 0.29 percent, to close at 6,827.92, while the broader all-shares index climbed 10.82 points, or 0.30 percent, to finish at 3,576.88.
China Bank Capital managing director Juan Paolo Colet said the index rose as investors digested data that FDI inflows in November 2023 rose to its highest level since December 2021.
Net FDI inflows climbed 27.8 percent in November 2023 to $1 billion from $820-million net inflows in the same period in 2022, the Bangko Sentral ng Pilipinas (BSP) said Monday.
“Market participants also started to position ahead of the release of January consumer price index inflation print that could influence trading for the rest of the week,” Colet said.
