The Philippine Stock Exchange index (PSEi) closed flat on Tuesday as investors remained cautious during a quiet session.
At the end of the trading day, the PSEi slipped 0.02 percent, or 1.44 points, to 6,448.90, while the broader All Shares index was down 0.05 percent, or 1.7 points, to 3,439.54.
According to Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, local investors are waiting on the sidelines ahead of the next central bank meeting, where the benchmark rate is widely expected to remain unchanged. He also noted that investors are monitoring the US market sentiment as they determine its impact on the local market during a shortened trading week.
Medalla suggests continued pause in rate hikes
A total of 715.78 million shares valued at P4.75 billion exchanged hands, with foreigners net sellers amounting to about P303 million, according to data from the stock exchange.
Among the PSE subsectors, services, mining and oil, holding firms, and industrial stocks posted gains, while property and financials declined.
Ayala Land Inc. was the most traded company, falling 5.12 percent to P23.15 per share.
—MIGUEL R. CAMUS INQ
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
