Stock index declines on sluggish trading

The Philippines stock market went through a minimal up and down movement throughout the Tuesday trading session, and ended with a decline because of the impacts of slow earnings for the third quarter, the 2.9-percent inflation rate for October, as well as concerns of a possible tapering by the US Federal Reserve of its bond-buying program.

Rafael Supangco, research head of Angping and Associates Securities Inc., said over the phone that the market was down because of some factors: “less liquid” market because of the slowdown of third-quarter earnings; as well as the renewed US tapering concerns.