Stocks were still down Wednesday as investors weighed the likelihood of an interest rate increase by the powerful US Federal Reserve, which could pull liquidity out of risky assets like equities.
Equity markets across the region were also mixed, pending the release of more economic data in the United States. This could provide clues on the timing of the next interest rate adjustment.
The benchmark Philippine Stock Exchange index (PSEi) was down 0.1 percent, or 7.56 points, to 7,787.37 Wednesday while the broader All-shares index was also lower by 0.05 percent to 4,633.88.
Sub-sectors were mixed Wednesday, with property and financial stocks ending positive. Each gained 1.04 percent and 0.11 percent, respectively. Losers were led by mining and oil, down 1.45 percent, followed by services, down 0.62 percent and holding firms, down 0.36 percent.
A total of 1.32 billion shares valued at P13.17 billion changed hands Wednesday. There were 100 decliners against 82 gainers while 52 companies closed unchanged.
Security Bank Corp. was the most actively traded Wednesday as it lost 0.56 percent to P213.40 a share.
This was followed by Universal Robina Corp., unchanged at P187; Metro Pacific Investments Corp., down 2.54 percent to P6.92; Ayala Land Inc., unchanged at P38.50, and SM Prime Holdings Inc., up 2.93 percent to P29.85 a share. Miguel R. Camus