Manila: The peso rebounded against the US dollar on Wednesday as the greenback weakened, while the Philippine Stock Exchange index (PSEi) ended lower. The peso closed at 59.26, improving from Tuesday's 59.45 finish. It opened at 59.39, stronger than the previous session's 59.44, and traded between 59.23 and 59.26, with an average of 59.32. Volume reached USD1.56 billion, up from Tuesday's USD1.21 billion.

According to Philippines News Agency, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort attributed the local currency's strength to the depreciation of the US dollar to its two-week low, as well as the successful sale of the Philippine government's US dollar-denominated global bonds amounting to USD2.75 billion. He noted that the global bond sale in the US received strong demand after total bids reached USD5.95 billion, reflecting continued international investor and credit confidence in Philippine credit quality.

Meanwhile, the main index fell 0.36 percent to 6,330.10, while the All Shares index slipped 0.28 percent to 3,596.69. Luis Limlingan, head of sales at Regina Capital Development Corporation (RCDC), attributed the decline to persistent global uncertainty. Market sentiment remained cautious, keeping buying activity limited. However, further downside was partially offset by the peso's slight appreciation against a weakening US dollar.

Half of the sectoral gauges also ended the day down, namely Services, 0.64 percent; Industrial, 0.58 percent; and Financials, 0.48 percent. Mining and Oil led the gainers after rising 4.64 percent, followed by Property, 0.20 percent; and Holding Firms, 0.14 percent. Volume reached 1.21 billion shares amounting to PHP6.87 billion. Decliners led advancers at 108 to 85, while 66 shares were unchanged.