Philippine Equities Face Headwinds as Second-Quarter Growth Hits 17-Year Low
Traders brace for range-bound trading as GDP slowdown and Middle East tensions weigh on sentiment, with central bank policy meeting in focus
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Traders brace for range-bound trading as GDP slowdown and Middle East tensions weigh on sentiment, with central bank policy meeting in focus

The PSEi slipped for a third consecutive session as market participants held back before the release of second-quarter economic data.

Ayala Land and PLDT approach critical market cap thresholds ahead of August 12 index review, following Jollibee's June exit from the benchmark

The Philippine Stock Exchange index closed lower for a second consecutive session despite softer-than-expected July inflation, as traders locked in gains ahead of GDP data.

The PSEi slipped 0.16 percent to 6,286.31 as traders locked in recent gains despite softer July inflation data and a strengthening peso.

Manila's benchmark index shed 47 points as traders weighed the central bank's decision to hold rates and domestic power sector developments

The PSE index fell 0.17 percent despite net foreign buying of ₱115 million, with Meralco plunging 4.66 percent after presidential remarks on power reforms

The PSEi climbed 0.54 percent on bargain hunting and relief from lower crude prices, while the currency strengthened from its record low.