Philippine News Agency
PSEi corrects, peso sustains sideways close vs. USD
The Philippine Stock Exchange index (PSEi) corrected on Wednesday, shedding 0.07 percent to 6,419.05 points, as investors awaited the June inflation rate data.
This follows a decline on Monday where the PSEi dropped by 0.68 percent to 6,364.94.
Despite the overall market dip, the Property sector index saw gains on both days, rising 2.17 percent on Monday and 0.60 percent on Wednesday.
The peso maintained a sideways close, ending Wednesday at 56.365 against the US dollar, a slight change from Tuesday's 56.3.
Trading volume on Wednesday was 792.5 million shares, amounting to PHP7.77 billion.
Economist Michael Ricafort noted that the PSEi's closing level remains among the one-month highs.
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