Philippine stock market declined for a second day after surging to a new record high last week, giving up 27.53 points closing at below 6,800 level on Tuesday, on expected correction and lack of news to lift the market.
The Philippine Stock Exchange index (PSEi) fell 0.40 percent to 6,786.42 from Monday's 6,813.95 finish.
The broader All Shares index also shed 17.14 points or 0.40 percent to 4,217.74.
Metrobank, in its research note, said the equities market would keep an eye on the Bangko Sentral ng Pilipinas' policy meeting set this Thursday.
It said that news flows due out for the week include the United States retail sales, jobless claims and consumer price index.
All counters were in negative territory, with the downtrend led by mining and oil sector that lost 373.40 points or 1.70 percent.
The sub-indices of other sectors fell moderately, except for industrials sector that rose 18.62 points or 0.19 percent.
A total of two billion shares changed hands worth P18.24 billion.
Decliners won advancers, 106 to 52, while 50 issues were unchanged.
Most actively traded stocks were SM Investments Corporation, Philippine Long Distance Telephone Company, Alliance Global Group, Inc., Ayala Corporation and Ayala Land, Inc.
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