PSEi snaps winning streak but hits new intraday high
MANILA, Philippines - The Philippine Stock Exchange index ended in the red territory on Wednesday as investors cashed in on gains made during the three-day rally.
The index settled at 6,431.35, down 0.60%, while the all-shares index fell 0.38% to 4,037.95.
Decliners beat advancers 91 to 85, while 43 issuers remained unchanged.
Leading Wednesday's decliners were SM Prime Holdings which dropped nearly 4% and Philippine National Bank which slipped 3.5%. San Miguel Purefoods Company, meanwhile, was also down 3.4%.
But PSEi recorded a new high on Wednesday, after it reached 6,486.45 during intraday trading. PSEi's most recent record high was seen on Tuesday, when it hit 6,470.49.
Meanwhile, at the foreign exchange market, the peso ended slightly weaker at P40.655 to the dollar from P40.645:$1. - ANC