Share prices closed flat Thursday as investors took profits while waiting for better news to trade the market.
The peso ended lower.
The Philippine Stock Exchange index was down 1.36 points to 6,641.35, a 0.02 percent drop.
The broader All Shares index was down 2.48 points or 0.07 percent to 3,756.07.
Losers edged gainers 96 to 82 with 70 stocks unchanged. Trading turnover reached P6.18 billion.
The peso closed at 58.24 to the dollar, down from 58.30 on Wednesday.
The currency opened at 58.40 and hit a high of 58.21 and a low of 58.42. Trading volume amounted to $1.34 billion.
Globally, investors have fully locked in a 25-basis-point rate cut by the US Federal Reserve next week after November inflation figures came in line with market expectations.
Markets are pricing in a nearly 99 percent chance of a quarter point cut, compared with 86 percent before the data, according CME’s FedWatch tool.
Philstocks Financial Inc. said investors maintained a cautious stance, leading to the market’s flat result.
Most actively traded BDO Unibank Inc. was down P4.80 to P148.20. International Container Terminal Services Inc. was up P7 to P395. Ayala Land Inc. was down P0.25 to P26.95. Bank of the Philippine Islands was up P4.60 to P134.60. Universal Robina Corp. was down P0.15 to P77.50. SM Investments Corp. was up P16.50 to P903. SM Prime Holdings Inc. was down P0.45 to P26.10. DigiPlus Interactive Corp. was up P0.25 to P24.45. PLDT Inc. was down P20 to P1,280. ACEN Corp. was down P0.22 to P3.47.
