Shares in a postholiday stupor

The Philippine Stock Exchange (PSE) saw a lackluster session at the start of the week as the benchmark measure plodded higher on Monday amid thin trading volume.

The PSE index (PSEi) rose 0.16 percent, or 11.21 points, to 6,996.11 while the broader all-shares index shed 0.07 percent, or 2.62 points, to 3,723.96.

With no local news drivers, investors looked toward external markets, with China reporting mixed results: higher first quarter economic growth while March unemployment rose to its highest level since 2018.

Meanwhile, market observers remained wary of the threat of rising inflation, which is dampening earnings expectations for the rest of the year.

PSE subsectors were also mixed with financials, industrials and holding firms closing lower while services, mining and oil and property rose.

PLDT Inc. pushed the index higher while bourse newbie CTS Global Equity Group pared some of its debut gains from its listing last week.

A total of 751.06 million shares valued at P3.65 billion changed hands while foreigners were net sellers to the tune of P198.13 million. Overall, there were 96 losers against 90 advancers while 47 companies closed unchanged.

PLDT Inc. was the most actively traded on Monday as it jumped 3.28 percent to P1,992 per share.

It was followed by SM Prime Holdings Inc., up 0.95 percent to P37.15, and CTS Global Equity Group, down 2.70 percent to P1.08. INQ