Stocks retreated on Tuesday as investors weighed the impact of a possible interest rate increase by the powerful US Federal Reserve. Stocks across the region edged higher.
The benchmark Philippine Stock Exchange index (PSEi) closed the session lower by 0.66 percent, or 44.64 points, to 6,701.35, while the broader All-Shares index was up 0.58 percent to 3,871.67.
Only the financial subcounter closed positive as it ended higher by 0.08 percent. The rest of the subindices declined, led by property, down by 1.33 percent, and holding firms, down 0.82 percent.
Data from the PSE showed that trading volume was relatively lower. A total of 576.6 million shares valued at P4.12 billion changed hands yesterday. Decliners led advancers, 95 to 66, while another 39 companies closed unchanged.
Universal Robina Corp. led the list of most-actively traded stocks as it fell 1.95 percent to P176.30 a share.
This was followed by Alliance Global Group Inc., up 1.83 percent to P15.58; Ayala Corp., down 0.07 percent to P734.50; Robinsons Land Corp., down 1.93 percent to P25.40, and Philweb Corp., up 0.24 percent to P20.95 a share. Miguel R. Camus