MANILA, Aug. 10 (PNA) — The local stock market ended flat on low volume but stayed above 7,500 on Monday, as investors were concerned about the United States (US) interest rate adjustment.
The barometer stock index advanced just 1.83 points to 7,534.35 from Friday’s 7,532.52 finish.
Brokerage firm 2TradeAsia.com said the latest US jobs data indicated further delays in the Fed’s rate hike.
The Dow Jones Industrial average retreated 46.37 points, while the broad S&P500 index gave up 5.99 points. European share prices also closed lower.
At home, counters were mixed, with the share prices of industrial companies leading the market’s gain surging 1.22 percent.
Services, holding firms, property and mining and oil were in the negative territory.
The volume turnover was thin at 957.15 million shares valued at Php5.81 billion.
Advancers outpaced decliners, 84 to 76, while 48 issues were unchanged.