PSEi declines amid Fed's asset purchase suggestion

The Philippine Stock Exchange index (PSEi) declined on Wednesday due to concerns over the US Federal Reserve's suggestion for increased asset purchases and uncertainty caused by the coronavirus pandemic.

Industrial counter experienced the highest decline among sectoral indices, contracting by 3.04 percent.

Volume totaled 2.66 billion shares amounting to PHP7.29 billion with losers surpassing gainers at 166 to 48.

The peso ended sideways against the US dollar on Wednesday and Monday due to renewed coronavirus fears and geopolitical tensions, trading between 49.375 and 49.495 over the period.