The benchmark Philippine Stock Exchange index dropped by 38.97 points or 0.57% to close at 6,720.93 on Tuesday, while the broader all shares index shed 37.08 points or 1.02% to 3,584.82.
“Philippine shares slid, although at a smaller drop compared to the rest of the region, as investors became concerned about the possibility of stagflation,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message, adding that the results of the elections will continue to take center stage.
Mr. Ricafort said that investors will be evaluating the incoming administration’s platforms and economic policies in their first months in office. The majority of sectoral indices ended in the red on Tuesday except for holding firms, which climbed by 27.10 points or 0.43% to 6,298.76.