The local stock market capped off the week with another lackluster performance, ending slightly lower amid the lack of fresh leads.
The bellwether Philippine Stock Exchange index (PSEi) slipped by 0.07 percent or 4.14 points, settling at 6,089.53.
The broader All Shares index also declined by 0.19 percent or 7.12 points to close the session at 3,665.08.
Luis Limlingan of Regina Capital said the market remained relatively flat for the second consecutive day despite the peso stabilizing against the dollar.
‘Mixed sentiments ahead of the upcoming earnings season likely kept the index moving sideways as investors await more earnings reports in the coming weeks,’ Limlingan said.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said the PSEi was again marginally lower after US stock markets tumbled amid increased United States-China trade tensions and continued government shutdown in the US.
Trading was anemic as total value turnover thinned to P4.4 billion from the previous day’s P9.82 billion.
Those in the red dominated local counters, with property taking the biggest hit with a 1.09-percent drop.
Services and financials, meanwhile, eked out gains of 0.37 percent and 0.1 percent, respectively.
Market breadth was negative as decliners squashed advancers, 109 to 83, while 56 issues were unchanged.
Ayala Land was the session’s top traded stock, plunging by 2.59 percent to P22.55 per share, followed by ICTSI which increased by 0.46 percent to P542.50 and BDO Unibank which dipped by 0.21 percent to P139.70.