PH stocks post modest gain after US Fed pledge

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The local stock barometer firmed up on Thursday, tracking mostly buoyant regional markets as investors welcomed signals by the US Federal Reserve that monetary stimulus would remain in place.

The Philippine Stock Exchange index (PSEi) added 64.02 points, or 0.98 percent, to close at 6,630.85. Investors are banking on sustained US stimulus amid a stronger US economic outlook and an expected surge in inflation.
2-percent rise
At the local market, the financial and property counters both rose by over 2 percent, while the mining/oil counter added 1.58 percent.

The industrial and services counters rose by less than 1 percent.

On the other hand, the holding firm counter slipped by 0…

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