PSEi dips amid inflation worries and rate cut delay fears

The Philippine Stock Exchange Index (PSEi) declined by 0.18% to close at 6,128.89 points on Tuesday, influenced by persistent inflation worries and uncertainty surrounding potential monetary policy easing.

The broader All Shares Index also saw a slight decrease, ending the trading session at 3,681.03 points.

Analysts expressed waning investor confidence due to the lack of positive catalysts and elevated inflation expectations.

A BusinessWorld poll forecasts August inflation at 1.3%, a rise from July's 0.9%, though it remains below the Bangko Sentral ng Pilipinas' (BSP) 2-4% target range.

There is speculation that the BSP might delay interest rate cuts until next year.

The Philippine Statistics Authority is scheduled to release the official August inflation figures on September 5th.

Global cues, including the US Federal Reserve's policy uncertainty and Wall Street's closure, also contributed to the cautious sentiment in local trading.