The Philippine Stock Exchange index unexpectedly fell on Tuesday despite government data showing inflation cooled to 6.1 percent in May from 6.6 percent the previous month.
“Core inflation in May 2023 eased to a 4-month low of 7.7 percent, but still among 22-year highs,” he said.
Trading was muted as a total of 1.8 billion shares valued at P3.88 billion changed hands while foreigners were net buyers to the tune of P104 million. All PSE subsectors, save for the property and mining and oil index, closed lower as investors remained risk averse. BDO Unibank Inc. was the top traded stock as it shed P2.03 percent to P135.30 per share. It was followed by SM Investments Corp., down 2.48 percent to P905; SM Prime Holdings Inc., up 1.82 percent to P33.50; Bank of the Philippine Islands, up 1.29 percent to P102; and International Container Terminal Services Inc., up 1.01 percent to P201 per share. Ayala Corp. was down 2.24 percent to P655; Metro Pacific Investments Corp., up 0.45 percent to P4.46; JG Summit Holdings Inc., up 2.
Overall, there were 109 losers against 70 advancers while 49 companies closed unchanged, stock exchange data showed.Your subscription has been successful.
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