MANILA -The benchmark Philippine Stock Exchange index (PSEi) closed flat on Tuesday as investors stayed on the sidelines during another quiet session.
By the closing bell, the PSEi slipped 0.02 percent, or 1.44 points, to 6,448.90 while the broader All Shares index was down 0.05 percent, or 1.7 points, to 3,439.54.
“Philippine shares traded flat before the US reopened as investors are trying to gauge how last week’s strong market sentiment will hold up in a shortened trading week,” Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said in a note to investors.
“Local [investors] are still on the sidelines before the next central bank meeting, wherein many widely expect the [Monetary Board] will keep the benchmark rate untouched,” he added.
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A total of 715.78 million shares valued at P4.75 billion changed hands while foreigners were net sellers amounting to about P303 million, data from the stock exchange showed.
PSE subsectors were mixed as services, mining and oil, holding firms and industrial stocks climbed while property and financials slumped.
Ayala Land Inc. was the top traded company as it fell 5.12 percent to P23.15 per share.
—MIGUEL R. CAMUS INQ
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