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Stocks down amid investors’ cautious stance, peso stays flat

Philippine shares declined anew on Tuesday as investors maintained a cautious stance, while the peso remained flat.

The Philippine Stock Exchange index (PSEi) went down by 0.69 percent to 6,299.67, while All Shares also fell by 0.46 percent to 3,687.86.

“The PSEi closed this Tuesday at 6,299.67, down by 0.68 percent. The local market continued to decline as investors maintained a cautious stance while waiting for fresh leads,” Philstock Financials research manager Japhet Tantiangco said.

Tantiangco said investors were primarily waiting for the US’ December 2024 inflation rate, which could provide clues on the Federal Reserve’s policy outlook.

Mining and Oil led the sectors, adding 1.04 percent.

Industrials, meanwhile, were at the tail end, declining by 1.56 percent.

Decliners outnumbered advancers 114 to 68.

The peso, meanwhile, slightly strengthened, closing at 58.62 to the US dollar from 58.7 on Monday.

It opened at 58.6 and traded between 58.47 and 58.62, bringing the day’s average to 58.547.

Volume rose to USD1.42 billion from USD1.35 billion the previous day.*PNA

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