PSEi falls as inflation, rate hike fears weigh

MANILA, Philippines — Local stocks fell on Tuesday as rising inflation and expectations of another interest rate hike drove concerns over the country’s economic growth outlook. The benchmark Philippine Stock Exchange Index (PSEi) dropped 0.73 percent, or 41.64 points, to close at 5,701.54. READ: Red hot inflation seen extending BSP hikes Philstocks Financial Inc. attributed