PSEi flat; investors on wait-and-see mode
Credit to Author: Lisbet K. Esmael| Date: Tue, 18 Feb 2020 16:22:57 +0000
Local shares were muted on Tuesday as investors await the release of listed companies’ 2019 earnings.
The benchmark Philippine Stock Exchange index (PSEi) fell by 0.05 percent or 3.96 points to close at 7,322.89, while the wider All Shares was slightly up by 0.05 percent or 2.28 points to finish at 4,340.98.
“Here at the PSE, the main index ended the day slightly lower, almost unchanged, on low trading volumes,” said AAA Equities head of research Christopher Mangun.
“The market continues to calm down as more and more investors wait on the sidelines for something to happen,” he added.
According to the analyst, the performance of local shares were driven by a general
“cautious” sentiment as investors await more reports of full-year 2019 financial results.
Shares in Asian markets were tempered with Tokyo, Seoul, Hong Kong and Singapore down by 1.40 percent, 1.48 percent, 1.54 percent and .51 percent, respectively.
Shanghai, meanwhile, saw its shares slightly up by 0.05 percent.
In Manila, sectoral results were mixed, with financials, industrial and holding firms ending in the red, while services, mining and oil, and property closed in the green.
More than 503 million shares, valued at 5.332 billion, were traded.
Losers led winners, 101 to 86, while 45 remained unchanged.