PHILIPPINE SHARES declined on Tuesday due to last-minute selling and as investors stayed cautious on lingering geopolitical uncertainty and corporates’ earnings outlook.
The Philippine Stock Exchange index (PSEi) dropped by 0.17% or 10.87 points to close at 6,304.03, while the broader all shares index went down by 0.24% or 8.33 points to end at 3,427.04.
“The local bourse ended lower as late-session selling emerged, with investors tracking weakness across regional markets. Sentiment remained cautious amid broad-based declines in neighboring markets. The market closed lower as investors continued to monitor market developments, especially with more earnings results coming in,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
“Last-minute profit taking sent the local bourse lower, with investors still worried over the uncertainties between the US and Iran,” Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.
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