PSEi dips amid inflation worries

The Philippine Stock Exchange Index (PSEi) slipped 0.18% or 11.46 points to close at 6,128.89 on Tuesday, as concerns over stubborn inflation weighed on investor sentiment.

The broader all-share index edged down 0.06% or 2.52 points to 3,681.03.

Analysts suggest that elevated inflation expectations and the possibility of the Bangko Sentral ng Pilipinas (BSP) delaying rate cuts until next year are contributing to market uncertainty.

A BusinessWorld poll of 16 analysts yielded a median estimate of 1.3% for August inflation, which would mark the sixth consecutive month inflation remained below the BSP's 2-4% target.

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

Global cues, including uncertainty over the US Federal Reserve's policy steps, also fueled caution in local trading.