Local stocks slipped on Wednesday as investors stayed cautious ahead of the release of May 2025 inflation data, while the peso moved sideways in a quieter trading session.
The benchmark Philippine Stock Exchange Index (PSEi) shed 0.54% to close at 6,378.56. The broader All Shares index inched down by 0.06% to 3,768.58, reflecting the overall market hesitation.
“Investors opted to stay on the sidelines, locking in gains and waiting for the May CPI (consumer price index) report set to be released tomorrow,” said Luis Limlingan, Head of Sales at Regina Capital Development Corp. “The market is looking for clues before making its next move.”
Among the sectors, Holding Firms and Services managed to end in the green, providing a bit of support. However, Financials, Industrial, Mining and Oil, and Property sectors dragged the market down.
Despite the overall dip, market breadth remained positive with 115 gainers outpacing 78 decliners.
On the currency front, the peso ended almost flat at 55.77 against the US dollar, slightly weaker than Tuesday’s close of 55.72. It opened at 55.80 and traded within a narrow range of 55.74 to 55.90, with an average rate of 55.79 for the day.
Trading volume in the foreign exchange market eased, with turnover slipping to $1.36 billion from $1.64 billion the previous day.