PH shares down as rate cut hopes vanish on strong US job gains

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6 months ago

MANILA — Philippine shares pulled back on the first trading day of the week as stronger employment data abroad weakened hopes of an earlier interest rate cut. As anxious investors at home stayed on the sidelines, the benchmark Philippine Stock Exchange Index (PSEi) shed 0.92 percent, or 60.12 points, to close at 6,458.64 on Monday.

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