PSEi gains slightly amid mixed investor sentiment

The Philippine Stock Exchange Index (PSEi) closed with a marginal gain, influenced by rate cut news but tempered by concerns over the pace of future reductions and a weakening peso.

The PSEi managed to add 10.78 points, closing at 6,406.38, with the Services sector performing well, while Banks and Property sectors experienced declines.

Trading volume increased, with gainers slightly outnumbering losers, reflecting a mixed investor sentiment.

Market sentiment was affected by both the mixed performance of US stocks and domestic concerns regarding the peso's depreciation and the Bangko Sentral ng Pilipinas' (BSP) projected slower rate cut trajectory.

Investors were seen bargain hunting after a previous week of declines, while also processing the BSP's recent policy rate adjustment.

Despite the slight increase, caution prevailed in the market's closing minutes, with foreign investors continuing to be net sellers, recording outflows of P777.85 million.