Local shares inched down Monday as investors opted to wait for companies’ earning results.
The Philippine Stock Exchange index recorded a slight decline of 9.1 points or 0.12 percent, reaching a closing value of 7,406.63.
The broader all shares index also saw a minimal decrease, by 1.23 points or 0.03 percent.
The peso ended at 57.59 to the dollar, slightly stronger from Friday’s close of 57.511.
The currency opened at 57.45 and hit a low of 57.59 and a high of 57.275.
Trading volume amounted to $1.34 billion.
“Investors took a cautious stance while waiting for new positive catalysts primarily the corporate sector’s third quarter corporate results,” said Philstocks Financial research manager Japhet Tantiangco, in his comment on yesterday’s stock market trade.
“Trading was anemic with net value turnover for the day at P2.89 billion, below the year-to-date average of P5.20 billion. Foreigners were net buyers with net inflows amounting to P161.44 million,” he added.
Counters were mixed, with three sectors in the red, while the remaining half in green.
The property index saw the biggest decline as it fell 0.24 percent.
Others in the negative were services and holding firms.
Meanwhile, mining and oil led the gains with a 0.45 percent increase.
The financials and industrial indexes were also in the positive as these inched up by 0.07 percent and 0.03 percent, respectively.
Total value turnover reached P3.3 billion. Decliners toppled advancers, 113 to 104, while 53 stocks were unchanged.
