Philippine stock index rises for third day as investor optimism grows

The Philippine Stock Exchange Index (PSEi) rose for the third consecutive day, gaining 0.32 percent to close at 6,625.17. Investor enthusiasm after the holiday break and expectations of stable inflation contributed to this increase. The broader All Shares Index also climbed, up 0.23 percent to 3,794.03. Foreign investors made net purchases of P40.94 million, with a total of 4.54 billion shares traded worth P3.86 billion. While banks and services firms saw gains, some major companies like SM Investments and SM Prime experienced slight declines. Overall, 112 stocks gained, while 103 lost, with 52 remaining unchanged.