The Philippine Stock Exchange index (PSEi) managed to eke out a small gain mainly due to the Services sector as investors remain cautious while US President Donald Trump unveils more economic policies.
The main index added 8.13 points or 0.13 percent to close at 6,348.34 with only the Services counter advancing while Miners led all other sectors down. Volume improved to 862 million shares worth P4.68 billion as losers outnumbered gainers 103 to 73 with 65 unchanged.
“Philippine shares climbed quietly as investors began to assess the market effects of President Trump's executive orders. Overnight, U.S. stocks rose Tuesday as Wall Street viewed President Trump’s trade remarks as softer than expected,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that, locally, cautious sentiment remains after Trump’s inauguration speech.