Philippine stocks outperform other SE Asia markets
- 12 Jul 2017 at 18:18
- WRITER: REUTERS
President Rodrigo Duterte gestures while delivering a speech inside the Philippine Stock Exchange in Makati City, Metro Manila, on Tuesday. Philippine stocks outperformed other Southeast Asian markets on Wednesday. (Reuters photo)
Most Southeast Asian stock markets rose on Wednesday, led by gains in Singapore, ahead of US Federal Reserve chair Janet Yellen's testimony to Congress later in the day.
While Yellen is expected to say that the Fed remains on a hawkish course of steadily raising rates, any signals on how the bank is viewing a retreat in inflation and muted wage growth will be closely watched.
Philippine shares outperformed other markets in Southeast Asia, rising 1 % to post their highest close in more than three weeks.