PSEi down at start of November as factory activity contracts for 2nd straight month

Philippine shares started November on a weaker note, with the PSE index falling 1% as factory activity contracted further in October. 

Investors are also bracing for this week’s inflation and employment data.

Market analyst Miko Sayo of Tsupitero.com weighs in on the market’s outlook, warning of further downside risks amid weak economic growth and persistent inflation concerns.

Meanwhile, Petron reports a 44% drop in nine-month net income to P5.4 billion, while DigiPlus Interactive posts lower earnings for the January-to-September period. 

Cirtek Holdings, meanwhile, approves the sale of its electronics unit to India’s Sancode Semi Private Limited for $20 million.