MANILA -The benchmark Philippine Stock Exchange index (PSEi) saw muted gains on Tuesday after the Philippine Statistics Authority (PSA) said inflation heated up to 5.3 percent on August.
By the closing bell, the PSEi added 0.17 percent, or 10.32 points, to 6,225, while the broader All Shares index was up 0.11 percent, or 3.70 points, to 3,360.14.
The latest inflation print breaks the six-month streak of cooling price increases. Moreover, the August inflation data was near the upper end of the Bangko Sentral ng Pilipinas’ expected range of 4.8 percent to 5.6 percent.
The inflation average since January thus stood at 6.6 percent, according to the PSA.
PSE subsectors were mixed on Tuesday as property and financials retreated, while holding firms, mining and oil, industrial and services gained.
A total of 437.5 million shares valued at P3.41 billion changed hands, while foreigners were net sellers, amounting to about P700 million.
Bank of the Philippine Islands was the top traded stock as it sank 1.51 percent to P104.20 per share.
It was followed by Ayala Corp., up 0.48 percent to P628; BDO Unibank Inc., down 0.65 percent to P138.60; Bloomberry Resorts Corp., up 0.73 percent to P11.04; and GT Capital Holdings Inc., up 0.52 percent to P575 per share.
SM Prime Holdings Inc. was down 2.30 percent to P29.75; International Container Terminal Services Inc. was down 0.49 percent to P205; Ayala Land Inc. was flat at P28.60; SM Investments Corp. was up 2.44 percent to P840; and JG Summit Holdings Inc. was up 1.09 percent to P37.20 per share.
Overall, there were 87 losers against 85 advancers, while 56 companies closed unchanged, data from the stock exchange showed.