Stocks close lower as markets await Fed move
MANILA, Philippines - The Philippine Stock Exchange index dipped on Tuesday as markets waited for the United States Federal Reserve's next move on its monetary policies.
The main index shed by 0.26 percent or 16.56 points to close at 6,461.38, lower than Monday's 6,477.94.
The broader all-shares index similarly dropped by 0.19 percent or 7.50 points to 3,875.44.
All subindices were in the red except the financials sector which gained 0.23 percent or 3.77 points to 1,620.38. The property subindex suffered the biggest loss, shedding 0.58 percent or 14.58 points to close at 6,477.94.
Total volume amounted to 670.53 million valued at P6.62 billion.
Decliners outpaced advancers 83 to 56, while 43 issues remained the same.
Millennium Global Holdings, Inc., Agrinurture Inc. and IP-EGame Ventures, Inc. gained the most while Mabuhay Vinyl Corp., Vitarich Corp. and Solid Group Inc. posted the biggest loss.
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