Share prices closed slightly higher on Tuesday as investors weighed the impact of July’s six-year low inflation rate and awaited more second-quarter earnings results.
“Investors continue to digest the recent update on Philippine inflation,” Luis Limlingan, managing director at Regina Capital Development Corp., said.
Limlingan also noted the market was waiting for more second quarter corporate results. “This could play a significant role in shaping investor sentiment and influencing the broader market’s direction.”
The Philippine Statistics Authority (PSA) earlier reported that July inflation slowed to 0.9 percent from 1.4 percent in June — the lowest since October 2019. This brought the year-to-date average to 1.7 percent.
The benchmark PSEi rose by 0.08 percent or 4.98 points to 6,353.63. The broader All Shares added 0.12 percent or 4.34 points to close at 3,770.94.
Advancers outnumbered decliners, 93 to 86, while 67 stocks were unchanged. Trading value reached P5.64 billion on 63,209 trades, covering over 1.27 billion shares.
Foreign investors were net sellers, unloading P153.3 million worth of shares. Total foreign buying amounted to P2.54 billion against P2.7 billion in sales.
Cristina Ulang, head of research at First Metro Investment Corp., said the inflation print “entrenches the BSP rate cut” of 25 basis points when the Bangko Sentral ng Pilipinas meets later this month.
Seth Pangan, trader at Diversified Securities Inc., said the market is consolidating as it retests the 6,300 level, but the broader bias “remains positive.”
