MANILA -The Philippine Stock Exchange index (PSEi) continued to consolidate within the 6,400 level as investors look toward the first quarter earnings season for potential catalysts.
By the closing bell on Tuesday, the PSEi slipped 0.63 percent, or 40.90 points, to 6,464.72 while the broader All Shares index was down 0.52 percent, or 18.02 points, to 3,471.52.
Investors were mainly on the sidelines during the session as 770.4 million shares valued at just under P3 billion changed hands while foreigners were net sellers to the tune of P142.88 million, according to data from the stock market.
Sy-led banking giant BDO Unibank Inc. kicked off the quarterly earnings season with a massive first quarter profit of P16.5 billion, which was 41 percent higher than the same period last year.
SM Investments Corp. was the top traded stock as it closed flat at P900 per share.
It was followed by Ayala Land Inc., down 1.12 percent to P26.40; SM Prime Holdings Inc., down 1.76 percent to P33.40; Manila Electric Co., up 0.31 percent to P320; and SP New Energy, down 2.38 percent to P1.64 per share.
International Container Terminal Services Inc. was down 0.1 percent to P210; BDO Unibank, down 0.31 percent to P127.90; and PLDT down 0.31 percent.