The stock market bucked a regional rally on Monday with analysts pointing to continued investor caution over the possibility of fresh Bangko Sentral ng Pilipinas (BSP) rate hikes as inflation hit a fresh five-year high in June.

Talk of a loan scandal at listed Metropolitan Bank and Trust Corp. (Metrobank) was also a factor, an analyst said, as the Ty-led bank saw its share price fall by over 2 percent despite denying the rumor.