The Philippine stock market closed lower on Monday, with the benchmark PSEi index down 1.09 percent at 6,798.61, StockMarketNews.ph reported.
The All Shares index also fell by 0.97 percent to 3,562.61. Industrial and property sectors led the declines, dropping 1.52 percent and 1.71 percent, respectively. The financial sector showed minimal losses, decreasing by just 0.03 percent.
The PSE Dividend Yield and MidCap indices were down by 1.51 percent and 0.88 percent, highlighting a cautious investor sentiment. Market activity was brisk with 637,715,344 shares traded, but declines (134) significantly outnumbered advances (59).
The market’s downturn reflects investor concerns over economic factors affecting corporate earnings, with a total trade value of PHP 4.22 billion across 56,972 transactions. The day ended with a cautious outlook, as reflected by the broader sell-off across most sectors. – BusinessNewsAsia.com