PSE ends week a loser on interest rate hike threat

The Philippine Stock Exchange index (PSEi) tripped 1.22 percent by the close of Friday’s session, ending the week lower with trading haunted by the prospect of higher interest rates after the central bank hinted it might start tightening its monetary policy gradually.

Harry Liu, president of Summit Securities Inc., told The Manila Times in a text message investors had opted to take profit upon news that the Bangko Sentral ng Pilipinas (BSP) favors early, measured adjustments to its policy rate-setting.