The local bourse retreated on the last trading day of the week as investors weighed a less optimistic inflation outlook in the United States and its potential impact on interest rate cuts.

By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) lost 0.23 percent or 15.25 points to 6,496.32.

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Likewise, the broader All Shares Index declined by 0.06 percent or 2.44 points to close at 3,754.85.

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A total of 1.04 billion shares worth P3.77 billion changed hands, stock exchange data showed. Foreigners opted to shed their shares, with foreign outflows reaching P45.93 million.

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Japhet Tantiangco, research head at Philstocks Financial Inc., said that traders were worried over the possibility of the US Federal Reserve “slowing down on their policy easing” due to a pessimistic inflation outlook.

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This is seen to impact the Bangko Sentral ng Pilipinas’ own monetary policy stance, with its rate-setting meeting scheduled after that of the Fed’s.

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At the same time, Tantiangco noted that the 8.7-percent decline in the country’s exports in November further dampened sentiment.

Only banks registered gains, led by BDO Unibank Inc. (up 1.1 percent to P147.50) and Bank of the Philippine Islands (up 0.08 percent to P120.90 each), while conglomerates saw the steepest decline.

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International Container Terminal Services Inc. was the top-traded stock as it dipped by 0.1 percent to P399, followed by AREIT Inc., up 2.64 percent to P40.80; BDO; SM Investments Corp., down 1.69 percent to P870; and Globe Telecom Inc., up 1.77 percent to P2,300 per share.

Other actively traded stocks were BPI; Dito CME Holdings, down 5.83 percent to P2.10; Ayala Land Inc., flat at P26.50; SM Prime Holdings Inc., down 0.62 percent to P24.10; and GT Capital Holdings, down 2.76 percent to P600 each.

Gainers edged out losers, 98 to 96, while 55 companies closed unchanged, stock exchange data also showed. INQ

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Data released by the BSP on Tuesday showed the public sector’s foreign borrowings from July to September this year went up by 36 percent from the $2.81 billion in the same period last year.

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