MANILA – Local shares declined on Wednesday as investors took a cautious stance.
The Philippine Stock Exchange index (PSEi) declined by 0.61 percent to 7, 367.66, while All Shares fell by 0.85 percent to 4, 050.76.
“The local market pulled back this Wednesday by 0.61% to 7, 367.66. Investors took a cautious stance as the local market remains without a fresh positive catalyst,” said Philstock Financials, Inc. research manager Japhet Tantiangco.
The miners led the sectors in Wednesday’s trading, adding 0.43 percent.
The services lost the most, shedding 1.92 percent.
Decliners edged advancers 128 to 71.
The peso-dollar trading, meanwhile, was suspended on Wednesday.
In a Facebook post, the Bangko Sentral ng Pilipinas said trading of peso-dollar and monetary operations were suspended after Malacañang ordered the suspension of work in government offices in Luzon due to severe tropical strom “Kristine” (Trami). (PNA)