Shares trade sideways

The benchmark Philippine Stock Exchange Index (PSEi) continued its sideways movement on Tuesday as investors brushed aside strong foreign investment inflows to focus on US inflation data to be released later today.

The PSEi sank 0.61 percent, or 38.70 points, to 6,349.94 while the broader All Shares index shed 0.35 percent, or 11.87 points, to 3,409.91.Trading volume saw a modest improvement, with 955.85 million shares valued at P4.2 billion changing hands. Foreigners also provided relief on Tuesday as they made net purchases of P323.2 million, PSE data showed.

Meanwhile, PSE subsectors ended mixed with the mining and oil, financial and industrial sectors advancing while holding firms, services and property pulled back.

—Miguel R. Camus INQ