PSEI trades flat as investors await earnings

Share prices on the Philippine Stock Exchange traded flat on Tuesday, with investors remaining on the sidelines as they await listed firms’ release of full-year earnings.

The bellwether PSEi lost 3.96 points or 0.05% to 7,322.89 at the closing bell. The broader All Shares, meanwhile, gained 2.28 points or 0.05% to 4,340.98.

“Here at the PSE, the main index ended the day slightly lower, almost unchanged, on low trading volumes,” AAA Equities head of research Chris Mangun said.

“The market continues to calm down as more and more investors wait on the sidelines for something to happen,” Mangun said.

He said that Investors’ general sentiment remains cautious as more companies report 2019 earnings.

Foreign funds bought P3.012 billion shares and sold P2.825 billion for a net buying position of P187.65 million.

“We saw minor foreign inflows today with net-buying at P187.7 million,” Mangun said.

More than 503.896 million shares valued at P5.332 billion, changed hands. Decliners led advancers, 101 to 86, and 45 issues were unchanged. — BM, GMA News