PSEi dips as investors lock in gains

The local bourse returned to the negative territory after a three-day win, as investors secured their gains.

The Philippine Stock Exchange Index (PSEi) dipped 0.17 percent, or 11.20 points, to close at 6,408.76.

The broader All Shares Index also dipped by 0.08 percent, or 2.75 points, to 3,638.38.

Only the services and miners gave support on Tuesday, with other sectors recording losses.

Despite this, Philstocks financial research manager, Japhet Tantiangco, said trading remained active with net value turnover at P6.22 billion.

“The local market pulled back as investors took profits following three days of rallying,” he said.

FDI data

“The market digested the Philippines’ October foreign direct investments (FDI) data, which posted a 40 percent decline in net inflows,” Tantiangco added.

See Also

Opportunities in PH stock market

The market is also in a wait-and-see mode for the upcoming US December consumer price index, which could influence the Federal Reserve’s next moves.

JG Summit Holdings Inc. had the highest increase in share price, improving by 2.88 percent to P25. Manila Electric Co., meanwhile, lost the most, dropping 2.20 percent to P577.

Advancers continued to outnumber decliners at 104 to 94, with 70 issues unchanged.