MARKET DOWN. The Philippine Stock Exchange index ended Wednesday (Oct. 4, 2023) in the negative territory ahead of the release of the September 2023 inflation rate. The peso, on the other hand, ended sideways to the dollar. (PNA graphics)
MANILA – The local equities market index fell ahead of the release of the September 2023 inflation data on Thursday while the peso moved sideways on Wednesday.
The Philippine Stock Exchange index (PSEi) shed 7.79 points to close at 6,298.20 and was followed by All Shares after it declined by 7.06 points to 3,398.56.
"The local bourse dropped by 7.79 points (0.12 percent) to 6,298.20 ahead of the release of the Philippines’ September inflation rate," Philstocks Financial assistant research manager Claire Alviar said.
"Many were on the sidelines, with the market value turnover registering at PHP4.68 billion. Investors were waiting for the inflation as this would be crucial data for the decision of the Bangko Sentral ng Pilipinas (BSP) regarding the interest rates."
Among the sectoral indices, the property sector is the sole gainer, increasing by 21.17 points while the mining sector had the biggest loss, declining by 302.40 points.
Decliners led advancers at 111 to 72 with 53 shares unchanged.
The peso, meanwhile, closed at 56.71 to the dollar on Wednesday, sideways compared to the 56.78 finish on Tuesday.
It opened the day at 56.82 from the previous day’s kick-off at 56.825.
The currency pair traded between 56.67 and 56.85, bringing the average level to 56.76.
The volume of trade went up to USD1.53 billion from USD932.2 million on Tuesday. (PNA)
