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PSE index slips as shares mostly move sideways
Philippine shares declined on Thursday, with the PSEi slipping by 0.02% to 6,376.79, as investors largely adopted a cautious stance ahead of the long weekend and amid sideways trading.
The May consumer price index (CPI) report showed headline inflation eased to 1.3% in May from 1.4% in April, marking the lowest CPI in over five years.
The benchmark Philippine Stock Exchange index (PSEi) declined due to the selling of index heavyweights such as SM Investments Corp., Manila Electric Co., and BDO Unibank, Inc.
Philippine markets were closed on Friday, June 6, in observance of Eid al-Adha.
The peso traded sideways, closing at 55.77 against the US dollar.
Trading volume decreased to USD1.36 billion from USD1.64 billion recorded on the previous trading day.
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