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Stocks plunge ahead of September inflation
Philippine stocks declined on Tuesday, with the PSEi falling 1.78% to 6,000.32, as investors engaged in profit-taking and adopted a cautious stance ahead of the September consumer price index (CPI) report.
The market's downturn followed three consecutive days of gains, indicating a shift towards risk aversion among traders.
Investors are closely awaiting the release of the September inflation data, which is expected to influence the Bangko Sentral ng Pilipinas' (BSP) upcoming monetary policy decisions.
The BSP believes inflation accelerated to a range of 1.5 to 2.3 percent in September, a slight increase from August's 1.5 percent.
All sectors were down, except for mining and oil, which climbed by 2.61 percent.
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