Share prices extended their losing streak for a fifth trading day on Wednesday as investors shunned aggressive moves ahead of the US Federal Reserve’s policy decision and the looming August 1 tariff deadline.
The benchmark PSEi slipped 0.11 percent or 7.19 points to close at 6,318.23.
The broader All Shares shed 0.09 percent or 3.49 points to 3,776.59.
Losers outnumbered gainers 95 to 87, while 62 stocks closed unchanged.
Trading remained sluggish, with total value turnover reaching P4.66 billion on 57,182 trades involving nearly 800 million shares.
Foreign investors were net sellers by P57.49 million.
“The local market declined as investors took a cautious stance while dealing with global trade uncertainty, especially as the US tariff negotiations deadline drew near,” Japhet Tantiangco, research manager at Philstocks Financial Inc., said.
He added that the peso’s continued weakness against the dollar also weighed on sentiment as the Fed’s overnight decision could influence capital flows.
Regina Capital Managing Director Luis Limlingan said market players also processed early corporate earnings results, which have started to shape expectations for the rest of the quarter.
“Companies are still releasing earnings reports, and this will probably remain one of the sentiment drivers over the next few weeks,” he said.
The US trade talks and tariffs remain on the market’s radar, he added.
