The Philippine Stock Exchange started the trading week on a downbeat note, with late-session selling erasing early gains. According to a report by Philstar Biz, the decline was attributed to the lack of a positive catalyst that could sustain the market's upward momentum.
The market initially posted gains during the session but eventually succumbed to selling pressure in the final hours of trading. Investors appeared cautious as they awaited fresh leads, with no major domestic or external developments to drive sentiment.
Analysts noted that the late selling reflected lingering concerns over global economic headwinds and the absence of near-term triggers. The Philippine market remains sensitive to external factors, including US policy moves and regional trade developments.