Philippine stocks, peso steady amid US developments

The Philippine stock market and currency remained stable on Tuesday as investors adopted a wait-and-see approach amid US developments.

The PSEi index declined by 0.07 percent to 7,198.45 points, with most sectoral gauges finishing in negative territory except for Holding Firms and Financials.

Volume totaled PHP16.03 billion, with decliners slightly outnumbering gainers at 115 to 114.

The peso closed almost unchanged at 48.078 from the previous day's close of 48.075.

On Monday, the PSEi fell by 0.48 percent due to concerns over additional fiscal aid in the US and earnings releases from major banks.