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Tuesday, February 27, 2024

Stocks flat Wednesday as investors search for more cues

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Philippine stocks ended nearly flat Wednesday amid lack of catalysts.

The 30-company Philippine Stock Exchange index shed 3.10 points, or 0.05 percent, to close at 6,305.85, while the broader all-shares index went down by 0.36 point, or 0.01 percent, to settle at 3,351.66

“Philippine shares closed almost flat with investors trying to get more cues from overseas that the world’s largest economy in still on an uninterrupted path of recovery,” Regina Capital Development Corp. head of sales Luis Limlingan said.

He said local investors might be rebalancing their portfolios on the back of better-than-expected November inflation rate.

Meanwhile, the peso slightly rose Wednesday to close at 55.30 against the US dollar Wednesday from 55.32 Tuesday.

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