Philippine News Agency
Profit-taking weakens local index, peso flat
The Philippine Stock Exchange index (PSEi) declined by 0.34% to 6,284.68 points on Tuesday due to profit-taking after a three-day rally.
US economic data, including a 0.2% rise in retail sales and a drop in consumer sentiment to its lowest since November 2022, contributed to investor concerns.
The Services sector led the decline, while the Mining and Property sectors saw advancements.
Most sectors in the local bourse ended in the red, with Services down 0.68%, Financials by 0.41%, Industrial by 0.23%, and Holding Firms by 0.21%.
Gainers outnumbered losers at 100 to 92, with 44 counters remaining unchanged.
In contrast, regional Asian markets continued to rally, spurred by China's stimulus measures.
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