The benchmark Philippine Stock Exchange Index (PSEi) was relatively flat on Wednesday, with trading activity ending at a near tossup between bulls and bears.
By the closing bell, the PSEi was down 0.05 percent, or 3.38 points, to 6,973.35. The broader all-shares index sank 0.03 percent, or 1.08 points, to 4,221.80.
“Current selling pressure is matched by the buying at current price levels, keeping volatility low,” Chris Mangun, research head at stock brokerage firm AAA Equities, said in a note to investors.
Overall, he observed that sellers were kept at bay “as most [investors] believe that valuations will continue to climb.”
Subsector performance was a mixed bag given that f…
Keep on reading: PSEi caught in the middle of fighting bulls and bears