Philippine stocks declined for the third straight trading day ahead of the release of US September inflation report.
The 30-company Philippine Stock Exchange index slipped by 13.05 points, or 0.18 percent, to close at 7,411.47. The broader all-shares index, however, picked up 4.16 points, or 0.10 percent, to end at 4.037.52.
The peso also weakened to 57.36 against the US dollar Thursday from 57.02 Wednesday amid lingering concerns over the Middle East tension.
US equities rose overnight as inflation rate is expected to register a 0.1-percent monthly increase.
Analysts said investors were waiting for US September inflation rate as this would influence the US Federal Reserve’s policy meeting slated next month.
Sectors were mixed with property, holding firms and financial increasing by 0.55 percent, 0.28 percent and 0.19 percent, respectively.
Services declined by 1.55 percent while mining and oil and industrial went down by 0.99 percent and 0.29 percent respectively.
Value turnover was thin at P4.04 billion. Advancers outnumbered decliners 111 to 99 with 48 stocks unchanged. Foreign investors were net sellers, with net outflows reaching P73.57 million.
Bank of the Philippine Islands climbed 0.71 percent to P141, while Bloomberry Resorts Corp. went down by 2.97 percent to P7.85.
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