MANILA, Aug. 2 (Xinhua) -- The Philippine stock market succumbed to profit takers on Tuesday as investors await moves from the Bank of Japan (BOJ).
The bellwether Philippine Stock Exchange index slipped by 0.40 percent or 32.03 points to 8,037.78, while the broader all-share index tumbled by 0.64 percent or 30.79 points to 4,761.17.
Trading volume reached 3.22 billion shares worth 7.25 billion Philippine pesos (154.40 million U.S. dollars) with 104 stocks advancing, 101 declining, and 44 were unchanged.
Of the six counters, only the financials bucked the trend.
"The local market was expected to trade downwards today as investors' sentiment continues to be dampened by the recent announcement of BoJ stimulus program," online brokerage 2TradeAsia.com said in its daily stock market comment.
The online brokerage nevertheless threw a word of encouragement and said the effect of the latest move of Japan would be lessened as players shift their attention to Japan's Prime Minister announcement of details regarding his fiscal stimulus plan.
The slowing down in the manufacturing activity in China has also affected local sentiments, it said, as this gave give a glimpse to the country's economic growth.
Stocks in the 30-company index however were mostly up. These include BDO Unibank, Inc., Cebu Air, Inc., and Megaworld COrp.