The Philippine Stock Exchange index (PSEi) was little-changed on Monday ahead of an event-filled week that could see interest rates in the Philippines and the United States moving up to counter high inflation.
By the closing bell, the PSEi added 0.08 percent, or 5.08 points, to 6,585.20 while the broader All Shares index shed 0.01 percent, or 0.41 points, to 3,436.99.
A total of 570.2 million shares valued at P5.51 billion changed hands while foreigners were net sellers for an amount totaling P685.2 million.
“On Tuesday, the November [US inflation] will be released, and traders will be looking for a sign that inflation is slowing. The [Federal Reserve] has a two-day meeting starting the same day. The central bank is expected to announce another rate hike on Wednesday, though traders are anticipating a smaller move than in recent months,” Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said in a note to investors.
“On the other hand, the main highlight back at home is the [Bangko Sentral ng Pilipinas’] policy rate decision on Wednesday,” he added.
BDO Unibank Inc. was the top traded stock as it rose 2.98 percent to P110.70 per share.
It was followed by SM Investments Corp., up 0.65 percent to P936 per share; International Container Terminal Services Inc., down 0.99 percent to P201; Globe Telecom, down 0.46 percent to P2,150; and Ayala Land Inc., down 0.34 percent to P29.10.
Ayala Corp. was down 2.14 percent to P685 a share; SM Prime Holdings Inc., flat at P34.70; Jollibee Foods Corp., up 2.2 percent to P242; PLDT Inc., down 3.58 percent to P1,668; and Manila Electric Co., down 0.57 percent to P278.40.
Overall, there were 102 losers against 84 advancers while 52 companies closed unchanged. INQ