Investors turn cautious, PH stocks pull back from record highs

 

The local stock barometer retreated from all-time highs on Tuesday as investors turned cautious ahead of the upcoming US Federal Reserve monetary setting.

The main-share Philippine Stock Exchange index (PSEi) pulled back by 131.44 points or 1.59 percent to close at 8,162.70, while regional markets were mixed ahead of the Sept. 19-20 meetings of the US Federal Open Market Committee.

Even as it was the last day of the “ghost month”—the Lunar month where many Oriental investors turn cautious—investors pocked gains after the PSEi probed new highs for three straight days.

All counters ended in the red, weighed down most by the holding firm and mining/oil counters wh…

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