Philippine stocks started the trading week in the red largely as investors took profits after previous week’s rally.
Limlingan said investors would await the release of US manufacturing data, the Federal Open Market Committee meeting minutes and other key economic dataAmong the six sectoral indices, only financials managed to end in the green, rising by 0.12 percent. However, while polls suggested the party was on course to win the most seats in the 577-member National Assembly, it was unclear if it could garner enough to take full control.
The yen, meanwhile, held its own against the dollar after the personal consumption expenditures index — the Federal Reserve’s preferred gauge of inflation — eased further in May.
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