Share prices edged lower on Wednesday as investors took profit ahead of the release of June inflation data later this week.
The PSEi slipped 4.80 points, or 0.07 percent, to close at 6,419.05, while the broader All Shares slipped 2.45 points, or 0.06 percent, to 3,796.91.
“Investors are closely monitoring the market ahead of Friday’s inflation report to get a glimpse into future economic conditions,” Luis Limlingan, managing director at Regina Capital Development Corp., said.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said sentiment was also weighed down by lingering global uncertainty.
“Some US fiscal concerns added to the cautious mood, especially in view of the latest developments at the US Senate on Trump’s tax bill that could widen the budget deficit and increase US government debt,” Ricafort said.
Market breadth remained negative, with 111 decliners, 76 advancers, and 67 unchanged out of 254 issues traded. Total value turnover stood at P7.77 billion, involving 792.46 million shares across 87,692 trades.
Foreign investors were net buyers for the day, recording P258.04 million in net inflows. Total foreign buying reached P3.93 billion, while selling amounted to ₱3.67 billion.
Despite the overall decline, there were signs of late-session bargain hunting.
“There was some market-on-close buying that helped reduce the market’s losses,” Jonathan Ravelas, senior adviser at Reyes Tacandong & Co., said.
Analysts earlier warned that June inflation may slightly rise following May’s near six-year low, potentially limiting policy space for further monetary easing.
