The Philippine Stock Exchange Index (PSEi) closed lower for a second straight session on Wednesday, slipping 0.36 percent to 6,330.10, as negative cues from Wall Street weighed on sentiment.

Investor caution persisted from yesterday, as renewed concerns over US tariff threats against select European countries due to Trump’s desired acquisition of Greenland, which added to global market uncertainty.

Trading strong despite decline

Despite the decline, trading activity remained relatively strong, with net value turnover at P6.20 billion, above the year-to-date average of P6.14 billion. Foreign investors remained net buyers, posting P252.82 million in net inflows.

Sector performance was once again mixed. Mining stocks led the market, climbing 4.64 percent, while services were the weakest, declining 0.64 percent.

Market breadth was negative, with losers outnumbering gainers, 108 to 85.

Aboitiz Equity Ventures Inc. (AEV) topped index gainers, rising 3.11 percent to P31.50 per share.

Peso regains footing

On the plus side, the peso finally regained its footing, improving to P59.26 per dollar from P59.45 in the previous session.

The rebound came as US dollar strength eased, with investors taking profits after the greenback’s recent surge driven by trade-related tensions. A slight pullback in global oil prices also reduced immediate pressure on import-dependent currencies like the peso.

In addition, calmer risk sentiment and improved liquidity helped temper demand for dollars, while the Bangko Sentral ng Pilipinas’ market-smoothing operations likely helped limit volatility.

Although the peso recovered some ground, it remains vulnerable to external headwinds such as geopolitical developments, US trade policy signals, and expectations for US interest rates.