Manila: Risks brought about by the impact of the continued conflict between the United States and Iran pulled the Philippine Stock Exchange index (PSEi) and the Philippine peso down on Tuesday, a day after these posted recoveries. The local bourse's main index shed 0.60 percent to 6,296.64 points, and the broader All Shares by 0.43 percent to 3,415.35 points.

According to Philippines News Agency, most of the sectoral indices also finished in the red, namely the Property, 1.05 percent; Holding Firms, 0.95 percent; Financials, 0.83 percent; and the Services, 0.19 percent. On the other hand, Mining and Oil rose 0.55 percent, and the Industrial moved sideways by 0.02 percent.

Volume remained thin at around 594 million shares amounting to PHP4.54 billion. Decliners led advancers at 102 to 84 while 54 shares were unchanged. "The local market pulled back amid concerns over the volatile situation between the US and Iran. This comes as Iran denied that talks with the US for a deal have been ongoing," Luis Limlingan, Regina Capital Development Corporation head of sales, said.

Limlingan noted that the denial of ongoing talks resulted in the surge in global oil prices and the depreciation of the Philippine peso. The local currency finished the day weaker at 61.16 to a greenback from its 60.93 finish a day ago. It opened the day at 60.05, better than its 61 start in the previous session. It traded between 61.22 and 60.9, bringing the day's average to 61.04. Volume reached USD1.65 billion, higher than the previous day's USD1.45 billion.