Share prices closed mixed Monday due to lack of strong leads.
The peso closed up.
Analysts said investors were waiting for the US’ May inflation data.
The Philippine Stock Exchange index (PSEi) was down 0.11 points, a 0.002 percent hike to 6,507.26.
The broader All Shares index was down 8.93 points or 0.26 percent to 3,467.25.
Losers edged gainers 127 to 68 with 43 stocks unchanged. Trading turnover reached P5.51 billion.
The peso closed at 55.95 to the dollar, up from 56.05 last Friday. The currency opened at 56.09, and hit a high of 55.93 and a low of 56.13. Trading turnover reached $834.75 million.
Market participants are on a wait-and-watch mode ahead of the US consumer price index (CPI) data release that is expected to show inflation cooled slightly in May, with core prices likely remaining sticky.
This may provide room for the Fed to pause its aggressive tightening cycle at its policy meeting ending Wednesday.
The upcoming CPI figures will “be the final piece of data to drive some last-minute adjustment in rate expectations ahead of the upcoming FOMC meeting,” IG market analyst Yeap Jun Rong said.
Traders currently see a 80 percent chance that the Fed will hold rates at the 5 percent-5.25 percent range, while pricing in a 69 percent chance of a rate hike in July, according to the tool.
Luis Limlingan, managing director at Regina Capital and Development Corp., said many investors are awaiting the US May inflation report due Tuesday in order to map out how they will trade the rest of the trading week.
Most actively traded Ayala Land Inc. was up P0.15 to P25. SM Prime Holdings Inc. was steady at P32.80. BDO Unibank Inc. was down P0.40 to P139.60. Globe Telecom Inc. was up P49 to P1,834. JG Summit Holdings Inc. was down P1.20 to P47. Ayala Corp. was down P3.50 to P676. Bank of the Philippine Islands was up P0.60 to P104.90. Universal Robina Corp. was down P1 to P141. Metropolitan Bank and Trust Co. was down P0.70 to P55.35. PLDT Inc. was down P10 to P1,270.
