PSEi closes negatively; peso stable

The Philippine Stock Exchange index (PSEi) closed negatively on Wednesday with a decline of 0.76 percent to 6,473.03 points.

All sectoral gauges except Services saw declines, led by Financials at 1.28 percent.

Volume reached PHP4.49 billion in shares and USD686.5 million in foreign exchange trading.

On Monday, the PSEi dropped 2.27 percent to 6,372.61 points ahead of President Duterte's SONA, with all sectoral gauges declining.

Volume was PHP4.15 billion in shares and USD944.37 million in foreign exchange trading on Monday.

Regina Capital Development Corporation’s Luis Limlingan attributed the negative sentiment to Chinese regulatory crackdowns and anticipation of Federal Reserve meeting outcomes.