PSEi climbs above 6,200 on bargain hunting

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MANILA, Philippines – Local stocks opened the trading week on a positive note, stretching gains for a fourth straight session as investors continued to hunt for bargains amid easing concerns over inflation.

The benchmark Philippine Stock Exchange Index (PSEi) climbed 0.58 percent, or 35.96 points, to close at 6,223.99 on Monday.

READ: Poll: Inflation may have eased to 6.7% in June

Philstocks Financial Inc. said sentiment was buoyed by optimism over the country’s inflation outlook following the recent decline in global oil prices, which could ease pressure on consumer prices in the coming months.

PSEi climbs above 6,200 on bargain hunting

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