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The Philippine Stock Exchange index dropped below the 6,500 level Tuesday on weak China trade data.
The 30-company bellwether lost 34.81 points, or 0.54 percent, to close at 6,472.97, while the broader all-shares index slipped 12.81 points to settle at 3,461.11.
“The index failed to sustain yesterday’s technical rebound as investors sold off after disappointing China trade date that showed a massive contraction in July imports and exports,” China Bank Capital managing director Juan Paolo Colet said.
Investors are expected to monitor the release of US July inflation rate and the Philippines’ second-quarter gross domestic product data this week.