PHILIPPINE shares slipped Monday as investors locked in gains and found little reason to take new positions in thin trade marked by sectoral swings and jitters following the failed Trump–Putin talks on Ukraine.
The benchmark PSEi dropped 27.05 points, or 0.43 percent, to close at 6,288.88.
The broader All Shares shed 10.12 points, or 0.27 percent, to 3,741.11.
Losers outnumbered gainers, 105 to 85, with 63 issues unchanged.
Turnover was modest at P6.17 billion, a sign of “poor investor confidence amid a lack of catalysts,” Philstocks Financial Research Manager Japhet Tantiangco said.
Foreign funds, however, bought a net P252.17 million.
Bucking the trend, mining stocks rose 3.40 percent, while banks sank 1.46 percent.
“With most companies done reporting earnings, investors are now waiting for new catalysts,” Alfred Benjamin Garcia, head of research at AP Securities, said.
Luis Limlingan, managing director at Regina Capital, added that the market “seems to be in a consolidation phase.”
