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THE Philippine bourse closed flat on Wednesday as developments within the Russia-Ukraine battle and the hawkish outlook of the US Federal Reserve are monitored.
The native inventory barometer Philippine Inventory Trade index inched up by 0.007 %, or 0.49 factors, to 7,009.43 whereas the broader All Shares climbed 0.24 %, or 8.96 factors, to shut at 3,724.75.
Japhet Tantiangco, Philstocks Monetary Inc. senior analysis analyst, mentioned last-minute cut price searching turned across the market’s intraday losses.
Market sentiment was weighed by the uncertainties over the Russia-Ukraine battle and the aggressively hawkish outlook of the Federal Reserve.
The market opened at 6,986.19 and reached a day low of 6,977.61 and an intraday excessive of seven,013.67.
Regina Capital Growth Corp. managing director Luis Limlingan, in the meantime, mentioned buyers “shrugged off hawkish remarks from Federal Reserve Chair[man] Jerome Powell,” whereas persevering with to watch the Russia-Ukraine warfare.
Buying and selling was nonetheless weak as internet worth turnover stood at P5.12 billion, effectively beneath the year-to-date common of P7.59 billion.
Foreigners remained sellers as internet outflows amounted to P734.65 million.
The native sectors closed blended with the commercial index main the advancers at 1.81 % and the conglomerates shedding essentially the most at 0.65 %.
Complete quantity turnover was at 1.41 billion shares valued at P5.89 billion.
Winners outnumbered losers at 91 to 85 whereas 48 securities have been unchanged.
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