Stocks ended relatively flat on Wednesday as investors and traders focused on second and third liners.
By the closing bell, the benchmark Philippine Stock Exchange index (PSEi) had gained 0.02 percent, or 0.97 points, to 6,245.71. The broader all-shares index was up 0.14 percent, or 5.51 points, to 3,852.90.
“Substantial gains in small-cap PSEi issues were offset by losses in the larger-cap ones,” Chris Mangun, research head at stock brokerage firm AAA Equities, said in a research note on Wednesday.
“The main index has started to move sideways again after the massive drop and recovery that we saw last week,” he said.
“This relieved a lot of selling pressure and showed that th…
Keep on reading: Market lets out a sigh as stocks finish flat