INVESTORS in the local stock market held back from making major moves on Monday, January 20.
The Philippine Stock Exchange index (PSEi) slipped by 0.04 percent on Monday, closing at 6,349.89 points, with All Shares also going down by 0.02 percent to 3,702.86.
“The local market edged lower this Monday as investors traded cautiously while waiting for US President-elect Donald Trump’s inauguration on Tuesday, Jan. 21 (Philippine time). Investors in particular are waiting for the incoming President’s policies in his first few days in the office,” Philstock Financials research manager Japhet Tantiangco said.
Indices were mixed, with Financials, Mining and Oil, and Industrial increasing their counters by 0.79, 0.49, and 0.42 percent, respectively.
Losers for the day include Property, down by 1.61 percent; Services, down by 0.22 percent; and Holding Firms, down by 0.09 percent.
Decliners outnumbered gainers at 105 to 98, leaving 48 counters unchanged.
Meanwhile, the Philippine peso strengthened at the start of the week, closing at 58.52 to the US dollar, gaining 0.12 from a 58.64 finish on January 17.
It traded between 58.45 and 58.60, averaging at 58.53 to the greenback during the day’s trading.
Trade volume slowed down to USD1.23 billion from USD1.6 billion last week. (PNA)
