The local stock market dipped as investors remain cautious prior to the release of various economic data in the US and locally.
The main index shed 19.27 points or 0.27 percent to close at 7,115.09 with the Mining and Oil counter leading the retreat while Banks and Industrials managed to advance. Volume weakened further to 788 million shares worth P4.87 billion as losers edged out gainers 92 to 82 with 57 unchanged.
“Trading remained anemic though as many investors stayed out of the market due to lingering risks, primarily on inflation, and lack of a strong catalyst,” he noted.
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