The Philippine Stock Exchange index (PSEi) closed lower on Wednesday as investors opted to pocket gains from recent rallies, while the peso traded sideways against the US dollar.
The benchmark PSEi lost 0.23 percent to 6,551.81, and the All Shares by 0.17 percent to 3,798.88.
“Philippine shares declined as investors locked in gains from the previous session’s rally,” Regina Capital Development Corp. head of sales Luis Limlingan said.
Except for Property and Services, which rose by 2.89 percent and 0.50 percent, respectively, the rest of the counters finished with losses.
Holding Firms fell 1.53 percent; Financials, 1.03 percent; Industrial, 0.51 percent; and Mining and Oil, 0.48 percent.
Decliners outpaced gainers at 114 to 82, leaving 46 unchanged.
Meanwhile, the local currency ended the day at 55.86 against the US dollar from its 55.80 finish on Tuesday.
It opened at 55.75 before trading between 55.63 and 55.95, bringing the day’s average to 55.80 to the greenback.
Volume reached USD1.92 billion, higher than Tuesday’s USD1.89 billion.*PNA
