The local stock market was ended almost flat amid a lack of catalyst here and overseas. The main index shed 1.44 points or 0.02 percent to close at 6,448.90 although only Banks and the Property sector were down. Volume remained thin at 715 million shares worth P4.75 billion as gainers outnumbered losers 92 to 81 with 47 unchanged. “Philippine shares traded flat before the US reopened as investors are trying to gauge how last week’s strong market sentiment will hold up in a shortened trading week that is light on economic data,” said Regina Capital Development Corporation Managing Director Luis Limlingan. He noted that, “On the other hand, local shares are still on the sidelines before the next central bank meeting, wherein many widely expects that the MB will keep the benchmark rate untouched.” Philstocks Financial Assistant Research Manager Claire Alviar said that, “Along with most Asian markets, the local bourse dropped as investors were still in search for a strong catalyst to drive the market upwards. Bargain hunting was seen at the last minute but it only trimmed the market’s losses and failed to push the market to the green territory.“ China Bank Capital Managing Director Juan Paolo Colet said “Selling pressure in top traded Ayala Land kept a lid on the market, with the index again closing in the red.“ He added that, “Locally, there is a lack of fresh leads to spur buying ahead of the BSP’s policy rate announcement. Sentiment was also weighed by China’s decision to cut its loan prime rates by 10 basis points, which disappointed some investors who were expecting more stimulus.”