Profit-takers pulled down the local bourse on the first trading day of the week, with the Philippine Stock Exchange index (PSEi) declining 13.14 points to 6,398.77 while the broader All Shares also declined by 7.19 points to 3,479.47.
"The local bourse dropped by 13.14 points (0.20 percent) to 6,398.77 due to profit taking after five consecutive days of market rally. The market also failed to stay above the 6,400 level," Philstock Financials, Inc. research associate Claire Alviar said.
"Many investors remained on the sidelines, given the weak market participation with a net market value turnover at P3.20 billion, as they awaited the inflation data for June. This data is crucial for the Bangko Sentral ng Pilipinas' decision on interest rates," Alviar added.
Except for the banks, which rose by 0.12%, all other sectors were also in the red, with Holdings having the most significant loss at 0.56%.
Decliners led advancers at 103 to 83, leaving 53 unchanged.
Meanwhile, the peso moved sideways, closing at 58.65 to a dollar on Monday from Friday's 58.61 finish.
It opened at 58.55 and traded between 58.47 to 58.695. The weighted average for the day was 58.563.
The total volume of trade fell to $920.83 million from $1.1 billion last Friday.
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