Share prices retreated anew on Monday as investors remained cautious following last week’s volatility.
The benchmark Philippine Stock Exchange index (PSEi) shed 0.19 percent or 15.78 points to end at 8,487.91. The broader All Shares dipped 0.05 percent or 2.48 points to finish at 5,025.90.
“Philippine markets remained cautious after the huge corrections experienced last week regionally,” a Regina Capital Development Corp. analyst said.
“There was also an expectation of some sell-offs with this being the week of Chinese New Year and Asian markets will be on holiday,” he added.
Trading volumes, the analyst said, are expected to drop.
The financial index was the only gainer on Monday, rising by just 0.66 percent.
More than 2.39 billion issues valued at P5.86 billion were traded.
Decliners led advancers, 118 to 94, while 36 issues remained unchanged.