The Philippine Stock Exchange index went down by 31.65 points or 0.46% to close at 6,818.99 on Wednesday, while the broader all shares index slipped by 5.20 points or 0.14% to 3,619.88.
“After seven consecutive days of gains, investors took some gains, bringing the local bourse to 6,818.99, down by 31.65 points or 0.46%,” Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message. Headline inflation quickened to 6.4% in July, a near four-year high. This was also faster than the 6.1% in June and 3.7% a year ago.
The majority of sectoral indices ended in the red on Wednesday except for mining and oil, which went up by 157.02 points or 1.31% to 12,076.96; and holding firms, which climbed by 28.45 points or 0.42% to 6,668.19.