Manila, Philippines – The Philippine stock market closed in negative territory on Wednesday, while the peso saw a slight appreciation against the dollar. The Philippine Stock Exchange index (PSEi) dropped by 44.43 points, ending at 6,265.14, and the broader All Shares index also decreased by 19.02 points to 3,339.68. Regina Capital Development Corp. head of sales Luis Limlingan attributed this movement to profit-taking activities, as investors sought to secure gains before November’s end.
According to Philippines News Agency, almost all sectors finished in the red, with the exceptions being the Services, and Mining and Oil sectors, which gained 4.04 points and 60.19 points, respectively. The trading session ended with decliners outnumbering advancers, 106 to 70, while 34 shares remained unchanged. Meanwhile, the peso closed at 55.39 against the dollar, marginally stronger than Tuesday’s 55.4 finish. The currency ranged between 55.28 and 55.4 during the day, averaging at 55.328. Trade volume for the day totaled USD1.0 billion, a decrease from the previous day’s USD1.2 billion.