Barometer ends down amid trade concerns

The stock index on Wednesday closed in the red, dropping by 39.75 points, or 0.57 percent, to close at 6,944.88.

Most sectors declined, with Properties losing the biggest at 2.49 percent, followed by Miners and Industrials down by 1.11 percent and 0.41 percent, respectively.

Services was the lone gainer, inching up by 0.02 points.

Converge ICT Solutions, Inc. was the top index gainer, jumping by 4.18 percent to P16.94. SM Prime Holdings Inc. on the other hand, was the biggest loser, down by 3.31 percent to P30.70.

BDO Unibank, Inc. was the most actively traded stock with a value of P608,372,076, up by 2.19 percent, followed by International Container Terminal Services Inc., with a value of P407,027,600, up by 0.05 percent.

Mixed finish for US shares

Besides the local bourse closing in the red after consecutive days of closing higher, Regina Capital Development Corp. head of sales Luis Limlingan said US stocks also ended mixed as investors awaited August’s Consumer Price Index report on Wednesday and the Producer Price Index on Thursday, which are pivots to the Fed’s September rate decision.

“Investors also digested the widening of the Philippines’ balance of trade in goods deficit last July amid a tepid export performance and the drop in its June foreign direct investment net inflows,” Philstocks Financial Inc. senior research analyst Japhet Tantiangco, meanwhile, said.