MANILA – The Philippine Stock Exchange index (PSEi) ended its two-day rally on Wednesday partly on concerns on rising inflation rate in the US but the peso finished the day sideways against the US dollar.
The main equities index lost 1.43 percent, or 90.43 points, to 6,236.40 points.
All Shares declined by 1.28 percent, or 49.96 points, to 3,858.00 points.
Most of the sectoral indexes trailed the PSEi, led by Mining and Oil after it fell by 3.07 percent.
It was followed by the Property, 2.79 percent; Holding Firms, 1.69 percent; Services, 1.23 percent; and Industrial, 0.36 percent.
Only the Financials index gained during the day after it rose by 0.28 percent.
Volume totaled 3.63 billion shares amounting to PHP6.2 billion.
Losers led gainers at 141 to 55, while 50 shares were unchanged.
“Philippine shares closed lower ahead of the holiday following the sentiment from the regional markets on concerns about rising inflation and high valuations,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
Meanwhile, the peso ended the day at 47.815 from 47.81 a day ago.
It opened the day at 47.8 and traded between 47.87 and 47.785.
The average level for the day stood at 47.834.
Volume totaled USD869.95 million, higher than the previous day’s USD837 million. (PNA)
