PSEi drops to 7-month low amid investor caution

The Philippine Stock Exchange index (PSEi) closed at 6,153.47 on Tuesday, January 28, 2025, marking its lowest point in seven months and extending a losing streak to three consecutive trading sessions.

Investor caution persists ahead of the US Federal Reserve's policy decision and the release of Philippine gross domestic product (GDP) data.

The PSEi is currently down 18.54 percent from its October intraday high, but has not yet entered bear territory, which requires a 20 percent decline.

While most sectors closed lower, banks experienced gains as investors bought shares of China Banking Corp., BDO Unibank Inc., and Bank of the Philippine Islands.

Foreign investors made net purchases worth P199.32 million.

The PSEi is nearing index recomposition on Friday, January 31, with AREIT and China Banking Corp. set to be added, replacing Nickel Asia and Wilcon Depot.