PSEi dips amid US President Trump's health concerns

The Philippine Stock Exchange index (PSEi) fell by 1.008 percent on Monday, ending at 5,938.95 points, breaking a three-day rally due to risk-off sentiments.

On Tuesday, the PSEi declined further by 0.48 percent to close at 5,910.64 points.

Most sectoral indices closed lower on Monday, with Property seeing the largest decline, while Mining and Oil was the only sector to finish with gains.

On Tuesday, Industrial index registered the biggest drop among the sectoral gauges, followed by Financials.

Market participants attributed the PSEi's decline partly to speculations surrounding the health of US President Donald Trump after his COVID-19 diagnosis and the White House's lack of updates.

Trump returned to the White House on Tuesday after a three-night stay in Walter Reed National Military Medical Center, but more of his aides tested positive for the virus.

Despite the stock market's downturn, the Philippine peso remained stable against the US dollar, closing at 48.405 on Monday and 48.38 on Tuesday.

Trading volume for the peso against the dollar was lower on Monday but higher on Tuesday compared to the previous sessions.