Share prices and the currency retreated Tuesday amid risk aversion as investors look to economic figures due for the rest of the week.
The Philippine Stock Exchange index (PSEi) was down 39.81 points to 6,358.96, a 0.62 percent drop.
The broader All Shares index was down 16.8 points or 0.48 percent to 3,462.67.
Losers edged gainers 110 to 65 with 48 stocks unchanged. Trading turnover reached P3.94 billion.
The peso closed at 58.795 to the dollar, down from 58.65 on Monday.
The currency opened at 58.75 and hit a high of 58.735 and a low of 58.84. Trading turnover reached $915.14 million.
Traders will also seek clues on potential rate cuts when US Federal Reserve Chair Jerome Powell speaks at an event later in the day.
The Fed could afford to wait for a couple of more inflation and jobs reports before considering a rate cut, said Lloyd Chan, a senior currency analyst at MUFG Bank.
“So for now, with the Fed not going to do anything on the policy rate, Asian central banks will have to wait out for the time-being.”
Philstocks Financial Inc. said many investors remained cautious, waiting for the June inflation report due this week.
“The slight decline in S&P Global Philippines Manufacturing PMI, which signified a growth slowdown weighed on sentiments,” the stockbroker also said.
Most actively traded Universal Robina Corp. was down P1.10 to P107.30. International Container Terminal Services Inc. was up P3 to P352. Ayala Corp. was down P12 to P565.
SM Investments Corp. was down P4 to P828. BDO Unibank Inc. was down P1.50 to P128.50. Ayala Land Inc. was down P0.40 to P28.50. Metropolitan Bank and Trust Co. was down P1.25 to P65. GT Capital Holdings Corp. was down P17 to P561. SM Prime Holdings Inc. was up P0.10 to P28.10. Aboitiz Power Corp. was down P1.40 to P32.40.
