PSEi snaps winning streak, peso slightly up
Manila: The local stock market slipped on Wednesday following its two-day winning streak while the peso closed slightly stronger against the dollar. The Philippine Stock Exchange index (PSEi) declined by 0.26 percent to 7,437 points. All Shares, however, went up by 0.27 percent to 4,097.56. “Philippine shares settled downwards, settling back to the 7,400 level, as investor optimism propelled the recovery further, amidst expectations that the monetary board would announce another rate cut this Wednesday,” Regina Capital Development Corporation managing director Luis Limlingan said. More than half of the sectoral indices closed in the red, with Mining and Oil recording