The Philippine Stock Exchange index (PSEi) retreated on Thursday, ending a three-day winning streak as investors pocketed gains ahead of the release of May inflation data. According to BusinessWorld , the benchmark index dropped by 0.69% or 41.24 points to close at 5,911.93. The broader all-shares index also declined, reflecting cautious sentiment across the market.
Analysts attributed the sell-off to profit-taking after recent gains, as traders opted to wait for the May inflation report due out later this week. The market also remained wary of ongoing uncertainties in the Middle East, which have weighed on global risk appetite. The Philippine peso was little changed against the US dollar during the session.
Sectoral indices were mostly lower, with mining and oil, property, and holding firms leading the decline. Trading volume reached 1.3 billion shares worth PHP 5.1 billion, with decliners outpacing advancers 97 to 67. Investors now eye the inflation data as a key factor for the central bank's next policy move.