MANILA – The local bourse finished the day almost flat while peso strengthened on middle of the week’s trading.
The Philippine Stock Exchange index (PSEi) slipped by 0.01 percent, or 0.52 points, to 6,520.75 points, while the broader All Shares inched up by 1.70 points to 3,434.41.
“The local bourse saw a marginal decline of 0.52 points (0.01 percent) to 6,520.75 as more investors booked gains following the market’s rise in the past few days. Investors were also finding new catalysts to drive the market upwards,” Philstocks Financial, Inc. assistant research manager Claire Alviar commented on the stock market’s trading on Wednesday.
Sector performances were mixed, with gainers led by Mining and Oil, followed by Holding Firms and Services.
Those in the negative territory were led by Industrial, followed by Financials and Property.
“Despite the market’s decline, foreign investors were net buyers, registering a net inflow of PHP166.8 million. Market participation was also strong with a net market value turnover of PHP5.3 billion,” Alviar added.
Advancers surpassed decliners on this day’s trading at 96 to 89, with shares of 42 firms left unchanged.
Meanwhile, Philippine peso rebounded by 0.20, closing at 55.75 to a US dollar from Tuesday’s 55.95-finish.
It opened the day slightly weak at 55.85 from the previous day’s kick off at 55.80.
The currency pair traded between 55.73 and 55.90, bringing the average level for the day at 55.81.
Trade volume increased to USD1.59 billion from last day’s volume of USD1.3 billion. (PNA)
