MANILA – Philippine shares saw a decline on Tuesday (28 Jan 2025) as investors adopted a cautious stance ahead of the upcoming release of fourth-quarter GDP data. The peso, on the other hand, ended the day nearly unchanged.

The Philippine Stock Exchange index (PSEi) dropped 0.70% to close at 6,153.47, while the broader All Shares index decreased by 0.45% to 3,623.52.

Regina Capital Development Corp.’s Luis Limlingan noted that the PSEi remained in the 6100 range, a seven-month low, as market sentiment was impacted by anticipation surrounding Philippine GDP figures and the Federal Reserve’s upcoming policy decisions.

Most sectors ended in the red, with the Services sector experiencing the sharpest decline of 3.66%. However, the Financials and Industrial sectors saw gains of 1.55% and 0.13%, respectively. Decliners outnumbered advancers 112 to 66.

Meanwhile, the peso closed nearly unchanged at 58.42 to the dollar, slightly lower than Monday’s 58.43. The peso opened at 58.48, trading between 58.40 and 58.56, with a weighted average of 58.475. Trading volume increased to USD 1.66 billion from USD 1.52 billion the previous day.

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