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The Philippine Stock Exchange index fell below the 6,200 level Wednesday as investors opted to stay on the sidelines ahead of the US Federal Reserve’s two-day symposium beginning Thursday.
The bellwether Philippine Stock Exchange index declined 32.76 points, or 0.53 percent, to close at 6,179.63, while the broader all-shares index dropped 13.32 points to settle at 3,339.63.
Luis Limlingan, head of sales at Regina Capital Development Corp., said investors were preparing for the start of the Fed’s symposium where Chairman Jerome Powell was expected to deliver remarks.
Investors were also focused on likelihood that China’s economy would further slow down.
Value turnover was thin at P3.26 billion.
