Philippine shares declined Tuesday as investors remained cautious ahead of the release of the fourth quarter Philippine economic growth data, while the peso closed flat.
The Philippine Stock Exchange index (PSEi) fell by 0.70 percent to close at 6,153.47, while All Shares also declined by 0.45 percent to 3,623.52.
“The PSEi still closed in the 6100 area, marking a seven-month low as investors turned cautious ahead of the release of Philippine GDP (gross domestic product) data and the Federal Reserve’s policy decision,” said Regina Capital Development Corp. head of sales Luis Limlingan.
Most of the sectors closed in the red with Services recording the biggest drop at 3.66 percent.
Financials and Industrial, however, went up by 1.55 percent and 0.13 percent, respectively.
Decliners edged out advancers at 112 to 66.
Meanwhile, the peso finished flat, closing at 58.42 to a dollar on Tuesday from Monday’s 58.43 finish.
It opened at 58.48 and traded between 58.4 and 58.56.
The weighted average of the day stood at 58.475.
Volume of trade went up to USD1.66 billion from USD1.52 billion.*PNA