The local bourse on Monday further dipped, losing 155.65 points, or 2.10 percent, to close at 7,272.65.

All sectors were in red, with Holding Firms as the biggest loser, decreasing by 2.84 percent, followed by Properties and Financials down by 1.95 percent and 1.78 percent, respectively.

According to Philstocks, only two index members gained — ACEN Corporation, up 0.94 percent, and Globe Telecom, Inc., up 0.71 percent. SM Investments Corporation was at the bottom, plunging 4.02 percent to P956 per share.

“Philippine shares fell due to profit-taking ahead of September CPI data on Friday. The September S&P PMI Manufacturing and August PPI are also due this week,” Regina Capital Development Corp. head of sales Luis Limlingan said in a Viber message.

He added that key economic data releases this week for the US, include the JOLTS report, the ISM Manufacturing Index on Tuesday, and the employment report on Friday, alongside speeches from Fed Chair Powell and other officials.

“Gold saw its strongest quarter in eight years, with spot prices reaching record highs before dipping 0.7 percent. Oil prices declined, with WTI down 5 percent and Brent 4 percent, as concerns over increased Saudi supply outweighed China's economic stimulus efforts,” the stock analyst said.

Value turnover was P6.24 billion. Decliners outweighed Advancers at 115 to 93, while 45 names were unchanged.

International Container Terminal Services Inc. was the most actively traded stock at P777,983,666, down by 1.46 percent, followed by BDO Unibank Inc. at P538,258,859, down by 2.11 percent.

The peso closed at P56.03 per dollar, from P56.077 on Friday. It opened at 56.03 and traded between 55.93 and 56.075. The weighted average was 56.017.