Manila: Philippine shares declined anew on Tuesday as investors maintained a cautious stance, while the peso remained flat.

According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) went down by 0.69 percent to 6,299.67, while All Shares also fell by 0.46 percent to 3,687.86. Philstock Financials research manager Japhet Tantiangco noted that the local market continued its decline as investors were wary and waiting for new developments.

Tantiangco highlighted that investors were primarily focused on the upcoming release of the US’ December 2024 inflation rate, which could provide insights into the Federal Reserve’s future policy decisions. This anticipation contributed to the cautious environment in the market.

Within the sectors, Mining and Oil saw an increase, leading the way with a 1.04 percent gain. On the other hand, Industrials faced the most significant decline, falling by 1.56 percent. Overall, decliners outnumbered advancers with 114 stocks down compared to 68 gaining.

In the currency market, the peso slightly strengthened, closing at 58.62 against the US dollar, compared to 58.7 on Monday. It opened the day at 58.6 and traded within the range of 58.47 to 58.62, leading to an average trading rate of 58.547 for the day. Trading volume saw an increase, rising to USD1.42 billion from the previous day’s USD1.35 billion.