The main index shed 10.21 points or 0.16 percent to close at 6,469.42 with sectoral indices evenly split. Volume improved to 1 billion shares worth P7.22 billion as gainers and losers were tied at 88 each while 57 were unchanged.
“Philippine shares ended trading muted as investors shifted their focus to March's highly anticipated inflation report with the S&P500 closing relatively flat, while the DJIA rose by 0.29 percent and the Nasdaq lost 0.43 percent,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that, “Locally, it was reported that there was a modest net foreign direct investment inflows reading of $448 million in January. Meanwhile, the latest PH unemployment rate came in unchanged at 4.8 percent in February .“ Philstocks Financial Assistant Research Manager Claire Alviar said “The local bourse declined amid dismal local economic data while waiting for the US inflation rate.”
She noted that , “At home, the drop in FDI net inflow in January year-on-year, as well as the decline in imports and exports in February, which indicate a weakened demand both domestically and internationally, had a negative impact on investor sentiment.”
Where are those investments pledged during Marcos' travels?
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