After gaining for two days straight, the Philippine stock market declined on Wednesday by 19.46 points, or 0.27 percent, to close at 7,155.90.
Sectors were split, with Miners leading the green territory, gaining by 1.83 percent, followed by Properties and Holding Firms, up by 0.88 percent and 0.02 percent, respectively.
Meanwhile, Banking led shredders down by 0.66 percent. Services declined by 0.59 percent, while Industrials at 0.12 percent.
Nickel Asia Corporation was the top index gainer, climbing by 4.83 percent to P3.47. Monde Nissin Corporation, on the other hand, was at the bottom, dropping by 2.68 percent to P10.16.
International Container Terminal Services Inc. was the most actively traded stock, valued at P688,384,582, down by -0.25 percent, followed by Ayala Corporation, with a value of P665,380,400, up by 1.67 percent.
The sentiment performance comes after investors await the Federal Reserve’s policy decision, which Luis Limlingan, Regina Capital Development Corp. head of sales, said has a 63 percent chance of a 50 basis points cut.
“However, some investors are concerned that a larger-than-expected cut could indicate underlying economic weakness,” he added.
The net value turnover was P6.14 billion, with 125 advancers, 68 decliners, and 60 names unchanged.
The peso closed at P55.72 as against the greenback.