Stocks down on external worries

The local stock barometer slipped for the first time in five sessions on Tuesday as regional markets faltered ahead of the closely-watched US-China resumption of trade talks at the sidelines of the G-20 Summit.

The main-share Philippine Stock Exchange index (PSEi) shed 26.49 points or 0.33 percent to close at 8,034.09.

Elsewhere in the region, markets were jittery ahead of the prospective meeting between US President Donald Trump and China President Xi Jinping at the sidelines of the G20 Summit, alongside simmering tension in Iran after the sanctions imposed by the US.

The PSEi was weighed down most by the property counter, which fell by 1.6 percent, while the financial counter dipped by 0.28 percent.

On the other hand, the mining/oil counter rose by 2.55 percent. The industrial, holding firm and services all firmed up.

Value turnover for the day amounted to P6.58 billion. Foreign investor appetite was weak, resulting in P180.57 million worth of net foreign selling.

There were 102 decliners that edged out 97 advancers, while 56 stocks were unchanged.

The PSEi was weighed down most by Ayala Land and GT Capital, which both fell by more than 2 percent.

SM Prime lost 1.17 percent, while BDO, Jollibee, Metrobank, BPI, Metro Pacific and SM Investments all slipped.

One notable decliner outside the PSEi was ISM, which went down by 2.12 percent.

On the other hand, First Gen rose by 5.8 percent, while URC, RRHI and PLDT slightly gained.

Investors picked up a number of non-PSEi stocks.

Cement-maker Cemex surged by 7.93 percent and Abacore Holdings added 6.17 percent.

AyalaLand Logistics and Phinma Energy advanced by 5.22 percent and 4.6 percent, respectively.