Philippine stocks fell Tuesday on profit-taking ahead of the release of the crucial US inflation report.
The bellwether Philippine Stock Exchange index lost 3.54 points, or 0.06 percent, to close at 6,230.20, while the broader all-shares index dropped 4.02 points to settle at 3,359.43.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said the financial markets were expecting the US inflation to pick up to 3.6 percent in August from 3.2 percent in July on higher fuel prices.
Philstocks Financial Inc. research engagement officer Claire Alviar said the market was initially trading in the green on expectation the US Federal Reserve would keep its interest rate unchanged.
Alviar said, however, a surge in last-minute profit-taking pushed the market into the negative territory.