MANILA =The Philippine market moved aimlessly on Monday as investors stayed on the sidelines ahead of the outcome of policy meetings in the US and Philippines later this week.
By the closing bell, the benchmark Philippine Stock Exchange index (PSEi) slipped 0.10 percent, or 6.48 points, to 6,228.29 while the broader All Shares index was down 0.06 percent, or 1.93 points, to 3,327.65.
Stock exchange data also showed 392.4 million shares valued at P4.06 billion changing hands while foreigners were net sellers amounting to P32.8 million.
Upcoming catalysts were the Dec. 13 US Federal Reserve policy meeting and Dec. 14 policy decision of the Bangko Sentral ng Pilipinas.
READ: Asian stocks slip, rate cut hopes face pivotal week
Investors will also be anticipating the latest US inflation data on Dec. 12. PSE subsectors were mainly lower amid declines by financials, mining and oil, industrial and services while holding firms and property climbed.
BDO Unibank Inc. was the top traded stock as it declined 2.76 percent to P123.40 per share. It was followed by Bank of the Philippine Islands, down 2.36 percent to P99.50; Ayala Land Inc., up 1.75 percent to P31.95; International Container Terminal Services Inc., fast at P229; and SM Prime Holdings Inc., up 0.15 percent to P32.70 per share.
Bloomberry Resorts Corp. was up 0.10 percent to P9.61; SM Investments Corp., up 1.09 percent to P835; GT Capital Holdings Inc., down 2.24 percent to P544.50; Emperador Inc., down 0.72 percent to P20.65; and Universal Robina Corp., down 0.80 percent to P111.90 per share.
Overall, there were 118 losers against 64 gainers while 48 companies closed unchanged, data from the stock exchange showed. —Miguel R. Camus INQ