Manila: Investors' concerns on developments both here and abroad resulted in little movement of the Philippine Stock Exchange index (PSEi) on Wednesday, but the Philippine peso depreciated against the US dollar. The local bourse's main index slipped by 0.04 percent to 6,120.09 points, and All Shares by 0.007 percent.
According to Philippines News Agency, most of the sectoral gauges also declined during the day - Services, 1.76 percent; Mining and Oil, 0.68 percent; Industrial, 0.29 percent; and Holding Firms, 0.08 percent. On the other hand, Property rose by 1.27 percent and Financials by 0.88 percent.
Volume reached 5.96 billion shares, amounting to PHP7.28 billion. Advancers led decliners at 97 to 91, while 69 shares were unchanged. 'The market stayed relatively flat as investors awaited a clearer catalyst before taking new positions,' said Luis Limlingan, Regina Capital Development Corp. head of sales.
The local currency, meanwhile, weakened against the greenback after closing the day's trade at 57.12 from 56.98 on Tuesday. It opened the day sideways at 57.10, trading between 57.19 and 57.05. The day's average stood at 57.13. Volume declined to USD1.44 billion from the previous session's USD1.72 billion.
