The benchmark Philippine Stock Exchange index was little changed on Wednesday amid another low-volume session while PLDT Inc. and Converge ICT Solutions Inc. saw strong gains. | miguelrcamusINQ /PDI
The benchmark Philippine Stock Exchange index was little changed on Wednesday amid another low-volume session while PLDT Inc. and Converge ICT Solutions Inc. saw strong gains.
By the closing bell, the PSEi added 0.02 percent, or 1.64 points, to 6,566.54 as the broader All Shares Index rose 0.23 percent, or 7.91 points, to 3,449.33.“Questions also lingered over whether the volatility will continue into 2023 and what the economy and inflation will bring as the calendar year turns a corner,” Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said in a note to investors.
“Market participants will be looking for numbers that can signal the [United States] economy is cooling, which they hope could indicate to the [US Federal Reserve] that interest rate hikes can continue slowing,” he added.
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