Philippine shares rebounded on Wednesday, with the main benchmark testing the 6,400 mark intraday, after Bangko Sentral ng Pilipinas (BSP) Governor said the central bank is unlikely to make aggressive policy moves despite lingering inflation risks, according to BusinessWorld.
The Philippine Stock Exchange index (PSEi) gained 49.01 points or 0.77% to close at 6,353.04, recovering from recent losses. Market sentiment was buoyed by the BSP chief's dovish remarks, which reassured investors that monetary tightening would remain measured even as price pressures persist.
Analysts said the central bank's stance could support further market gains in the near term, though they cautioned that inflation data and global economic trends would still influence investor confidence. The session's advance helped offset earlier declines, reflecting renewed optimism in the Philippine equity market.