THE OUTCOME of the US Federal Reserve’s policy meeting and the release of US consumer inflation data overnight are expected to affect Philippine stocks for the remainder of the week, analysts said.
The benchmark Philippine Stock Exchange index (PSEi) fell by 0.75% or 48.57 points to end at 6,410.07 on Tuesday, while the broader all shares index retreated by 0.49% or 17.19 points to finish at 3,450.05.
All sectoral indices ended lower on Tuesday. Services dropped by 1.79% or 35.60 points to 1,953.25; mining and oil declined by 1.43% or 129.70 points to 8,880.71; property lost 1.01% or 24.94 points to end at 2,423.22; holding firms went down by 0.33% or 18.78 points to 5,636.48; financials dropped by 0.29% or 5.82 points to 1,968.19; and industrials gave up 0.28% or 26.14 points to close at 9,049.07.
Philippine financial markets were closed on Wednesday for the Independence Day holiday.
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