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Philippine stocks rose Thursday after the US Federal Reserve deferred raising its interest rate.

The Philippine Stock Exchange composite index gained 1.13 percent to close at 7,762.35, led by holding firms.

Data at the stock exchange showed that a near three-week foreign selling stopped as foreigners bought 4,772 billion pesos worth of shares while selling 4.08 billion pesos worth of stocks.

The Philippine central bank also announced it kept its overnight reserve repurchase rate at three percent. DMS