THE main index inched lower on Wednesday ahead of the release of corporate earnings reports of companies here and abroad due to profit taking amid a less positive outlook for the country. READ:
inched lower on Wednesday ahead of the release of corporate earnings reports of companies here and abroad due to proThe benchmark Philippine Stock Exchange index went down by 11.44 points or 0.18% to close at 6,274.80 on Wednesday, while the broader all shares index increased by 0.17 point to 3,381.53.
“We can attribute the profit-taking done by investors today from the downward 2022 GDP growth forecast revision by Fitch, which cited inflationary pressures to impede the economic growth,” Mr. Fausto added. Meanwhile, mining and oil went up by 268.70 points or 2.45% to 11,201.53; services climbed by 3.43 points or 0.20% to 1,643.47; industrials increased by 17.56 points or 0.18% to 9,428.83; and financials inched up by 0.18 point or 0.01% to end Wednesday’s session at 1,481.07.Value turnover climbed to P5.03 billion on Wednesday with 733.64 million shares changing hands from the P3.793 billion with 1.07 billion issues seen the previous trading day.
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