PSEi flat as investors await Trump inauguration

The Philippine Stock Exchange index (PSEi) traded nearly flat on Monday, declining by 0.04 percent as investors adopted a cautious stance ahead of US President-elect Donald Trump's inauguration.

Philstock Financials research manager Japhet Tantiangco noted that local market participants are waiting for the new administration's policies in its early days, resulting in sideways trading.

Indices showed mixed performance, with banks booking the largest gain among subsectors, while property firms tumbled by more than 1 percent.

The broader All Shares Index also shed 0.02 percent, and trade volume decreased to P3.81 billion compared to previous weeks.

SM Investments Corp., BDO Unibank Inc., and Ayala Land Inc. were among the top-traded stocks with varying performance.