Index lags behind Asian peers
MANILA, Philippines - The local stock market pared its losses yesterday ahead of the much awaited speech of US President Donald Trump.
Still, the market ended the month of February in the red, lagging behind its Asian peers.
The benchmark Philippine Stock Exchange index (PSE) retreated 0.28 percent, or 20.38 points, to finish at 7,212.09.
It was the same with the broader All Shares index which declined 0.36 percent, or 15.97 points, to settle at 4,368.38.
Total value turnover reached P7.10 billion. Market breadth remained negative as declining stocks outnumbered advancers, 116 to 62 while 56 issues were left unchanged.
Global market investors are keenly awaiting US President Donald Trump’s speech Tuesday night.
Trump is set to speak at a joint session of the US Congress which investors hope would provide more details on the administration’s plans for tax reform and deregulation.
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