MANILA – Local shares closed flat on Friday, while the peso ended stronger against the dollar.
The Philippine Stock Exchange index (PSEi) was down by 0.03 percent, closing at 7,022 points, while All Shares also declined by 0.08 percent to 3,788.63.
"Philippine shares wrapped up the day pretty much flat as everyone’s holding their breath ahead of the Fed’s interest rate call," said Regina Capital Development Corporation managing director Luis Limlingan.
"Despite ending on the red though, the PSEi managed to hover above the 7k psychological line, with a 25bps cut from the Fed already baked into most traders' expectations," he added.
Sectoral indices were mixed with Industrial, Holding Firms, and Mining Oil as gainers; while Financials, Services, and Property were losers.
Decliners led advancers at 96 to 88 leaving 62 counters unchanged.
The peso, meanwhile, appreciated, closing at 55.995 to a dollar on Friday from the previous 56.2 closing.
It opened at 56.05 and traded between 55.94 and 56.1.
The weighted average was at 56.015.
Volume of trade fell to USD1.49 billion from USD1.69 billion. (PNA)
