- Advertisement -
Philippine stocks finished lower Wednesday as investors took time to analyze the latest movement in US bond yields and corporate earnings.
The 30-company Philippine Stock Exchange index lost 12.63 points, or 0.20 percent, to close at 6,268.27, while the broader all-shares index retreated 5.98 points, or 0.18 percent, to settle at 3,385.40.
The two-year US yields hit the highest levels in more than 16 years, while those on 10-year notes jumped 13 basis points to 4.83 percent.
Regina Capital and Development Corp. head of sales Luis Limlingan said investors were also monitoring the impact of US President Joe Biden’s vista to Israel on the Middle East conflict.