Foreigners Buy Most Philippine Stocks in Two Years on BSP Bets

Global investors snapped up the most Philippine shares in more than two years on expectations the central bank will cut interest rates next month to bolster economic growth.

Offshore traders bought a net $125.6 million of equities on Thursday, the largest daily inflow since July 31, 2023, according to Bloomberg-compiled data. The buying has helped lift the nation’s benchmark index this week, set to close about 7% higher.