Local stocks inched up by 6.26 points, or 0.10 percent, to close at 6,514.47 amid thin trading Tuesday as investors await the release of June inflation data.
“Many investors were on the sidelines as the market value turnover remained weak at P2.15 billion, which was even lower than yesterday’s value. Investors were waiting for the inflation data in June that will be released tomorrow,” Philstocks Financial analyst Claire Alviar said.
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The slowdown in factory activity also affected market sentiments.
S&P Global Market Intelligence said the Philippines’ Purchasing Managers’ Index was at 50.9 in June, down from 52.2 in May.
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