The local stock market ended lower Tuesday ahead of the release of August inflation rate.
The Philippine Stock Exchange index closed at 6,882.92, down by 40.49 points or 0.58 percent from Monday. The all-shares index also went down by 20.63 points, or 0.55 percent, to settle at 3,730.78.
Asian stocks were flat as investors await US data later this week, including manufacturing and employment rate. These data will offer hints on US Federal Reserve’s policy decision later this month.
The depreciation of the peso against the dollar also weighed on the market. The peso closed at 56.61 against the US dollar Tuesday down from 56.38 Monday.
Trading was tepid as investors await catalysts, primary the Philippines’ August inflation data to be released this week.
Among the indices, only the holding firms ended in the green, rising by 0.11 percent. Services dropped 1.23 percent, while financials slipped by 0.78 percent and 0.60 percent, respectively.
Value turnover reached P4.96 billion. Foreign investors were net buyers, with total net inflows of P20.57 million.
Century Pacific Food Inc. was top index gainer, climbing 1.38 percent to P36.70, while SM Investments Corp. rose 1.01 percent to P904.50, and Ayala Land Inc. climbed 0.43 percent to P35.
International Container Terminal Services Inc. fell 1.58 percent to P398.60 while SM Prime Holdings Inc. dropped 1.15 percent to P30.15.
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