Local shares ended a lackluster trading day marginally lower on Wednesday as investors remained focused on a potential Federal Reserve rate cut.
The benchmark Philippine Stock Exchange index slipped 2.62 points, or 0.04 percent, to 6,120.09. The broader all-shares index closed nearly unchanged at 3,691.35.
The peso also closed weaker, at 57.125 against the U.S. dollar, down from 56.764 on Tuesday.
Analysts said the market continues to consolidate at the 6,100 to 6,200 level as investors await clearer catalysts before taking new positions. Declining manufacturing output also affected investor sentiment.
“Participants now look to upcoming economic data and earnings to guide their next moves,” said Luis Limlingan, head of sales at Regina Capital Development Corp.
The property sector led gains, rising 1.27 percent, while the financial sector advanced 0.88 percent. Conversely, the services sector declined the most, down 1.76 percent, and the mining and oil sector dropped 0.66 percent.
Value turnover reached P6.3 billion. Market breadth was positive, with 97 gainers, 91 decliners, and 69 stocks unchanged. Foreign investors were net sellers, with outflows of P41.35 million.
Among index stocks, Aboitiz Equity Ventures Inc. advanced the most, climbing 2.56 percent to P30. International Container Terminal Services Inc. was the main index laggard, declining 3.03 percent to P474.20.
