PSEi slips 0.64%

Philippine stocks slipped Tuesday as investors grew concerned about an interest rate hike by the powerful United States Federal Reserve coming sooner rather than later.

Fed Chair Janet Yellen signaled that an interest rate hike within 2016 remained a possibility.

The benchmark Philippine Stock Exchange Index was down 0.64 percent, or 50.56 points, to Tuesday’s close of 7,794.93. The broader all-shares index was also down 0.55 percent, or 25.39 points, to 4,636.22.

Sub-sectors closed mixed Tuesday. Gainers were led by industrial stocks, up 0.56 percent, followed by mining and oil, up 0.50 percent. Decliners were led by financials, down 1.19 percent, services, down 0.98 percent, and holding firms, down 0.85 percent.

A total of 1.2 billion shares valued at P10.9 billion changed hands Tuesday. One hundred twenty four companies declined, while 73 companies gained and 46 closed unchanged.

Ayala Land was the most actively traded company Tuesday, as it lost 0.52 percent to P38.50 per share.

It was followed by Metro Pacific Investments Corp., down 1.93 percent to P7.10, SM Prime Holdings Inc., unchanged at P29, GT Capital Holdings Inc., down 0.45 percent to P1,536 and Ayala Corp., down 1.84 percent to P878 per share. Miguel R. Camus