Philippine stocks dip amid US policy uncertainty

The local stock market in the Philippines dipped slightly on Thursday after winning for three straight days, as investors remain cautious amid unpredictable policy shifts by the US and attacks by President Trump on the Federal Reserve.

Miners led the rally while Banks and Service sectors lagged behind, with volume rising to 631 million shares worth P6.13 billion and gainers outnumbering losers 112 to 90.

Regina Capital Development Corporation Managing Director Luis Limlingan said Philippine shares gave up minor gains as the market continued to trade in a narrow range following Trump's softened stance on the trade war with China.

The Philippine Stock Exchange Index (PSEi) shed 10 points or 0.16 percent to close at 6,158.48, while the All Shares index slipped by 0.01 percent to 3,658.25.

Counters were mixed with Mining and Oil up by 2.10 percent and Financials down by 0.39 percent.

The peso closed flat at 56.55 to the US dollar, trading between 56.43 and 56.64.