Philippine stocks ended in the red Wednesday as investors await the policy actions of the US Federal Reserve and Bangko Sentral ng Pilipinas on interest rates.
The 30-company Philippine Stock Exchange index dropped 36.65 points, or 0.56 percent, to close at 6,255.74, while the broader all-shares index slipped 14.32 points, or 0.43 percent, to settle at 3,399.14.
Philstocks Financial Inc. research analyst Claire Alviar said that aside from the interest rate decision, investors also wanted to know the outlook of the Fed and the BSP on inflation rate and the timing of monetary easing.
Foreign investors were net sellers for the day by P280.5 million, while value turnover stood at P2.84 billion.
Meanwhile, the peso slipped to 56.055 against the US dollar Wednesday from 55.57 Tuesday ahead of the monetary policy meetings.