By el Ami Go
MANILA, Philippines — The Philippine stock market ended slightly lower on Tuesday as investors locked in gains following recent advances, while the peso posted a modest appreciation against the US dollar.
The benchmark Philippine Stock Exchange index (PSEi) slipped 0.17 percent to 6,304.03, while the broader All Shares Index fell 0.24 percent to 3,427.04.
Despite the overall decline, most sectoral indices finished in positive territory. Mining and Oil led the gainers with a 0.50-percent increase, followed by Financials at 0.35 percent, Services at 0.18 percent, and Holding Firms at 0.01 percent.
Meanwhile, Industrial and Property sectors weighed on the market, declining 1.24 percent and 0.73 percent, respectively.
Trading activity remained active, with 790.2 million shares changing hands for a total value of PHP6.67 billion. Market breadth was negative, as 89 stocks declined, 78 advanced, and 68 remained unchanged.
According to Philstocks Research, the market’s late-session weakness was driven by investors taking profits while remaining cautious over lingering geopolitical uncertainties involving the United States and Iran.
In the foreign exchange market, the Philippine peso strengthened to 61.61 per US dollar, improving from 61.67 in the previous trading session.
The local currency opened at 61.70, traded within a range of 61.60 to 61.76, and averaged 61.67 throughout the day.
Dollar trading volume likewise increased to USD1.16 billion, higher than Monday’s USD990.68 million.
elamigo/xf
