PSEi sinks to 5,800 level before inflation report

THE MAIN INDEX on Thursday returned to the 5,800 level for the first time in two weeks as cautious sentiment reigned before the release of the latest Philippine inflation data that could influence the Bangko Sentral ng Pilipinas’ (BSP) policy decision next week.

- — A.G.C. Magno

The bellwether Philippine Stock Exchange index (PSEi) fell by 0.3% or 18.26 points to close at 5,887.58, while the broader all shares index decreased by 0.17% or 6.14 points to end at 3,458.65.

This was the PSEi’s lowest close in over two weeks or since it finished at 5,813.71 on Nov. 19.

“The local bourse closed lower as investors stayed cautious ahead of tomorrow’s inflation release. Market participants remained on the sidelines while awaiting clearer economic signals, Additionally, the continued depreciation of the peso weighed on overall sentiment,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said ina Viber message.