Manila: A wait-and-see stance by Investors in the local bourse resulted in the reversal of the Philippine Stock Exchange index’s (PSEi) rise on Wednesday, and the peso weakened against the US dollar.

According to Philippines News Agency, the main index shed 0.83 percent to 5,818.06 points, and the All Shares declined by 0.69 percent to 3,534.38 points. All sectoral gauges also ended the day in the red, with Mining and Oil posting the biggest drop at 3.62 percent. It was followed by the Holding Firms, which declined by 1.30 percent, Property by 1 percent, Industrial by 0.70 percent, Services by 0.57 percent, and Financials by 0.53 percent.

Volume reached 406.27 million shares, amounting to PHP4.72 billion. Decliners led advancers at 137 to 53, while 61 shares were unchanged. Philstocks Financial, Inc., in its market report, said the PSEi slipped after ‘investors traded cautiously while looking forward to the Q3 GDP (gross domestic product) data release, which is expected to be below target.’ The Philippine Statistics Authority (PSA) is scheduled to release the third quarter 2025 report on Nov. 7.

Negative spillovers from Wall Street amid overvaluation concerns with the US’ artificial intelligence sector also affected the local bourse today. The same sentiments were felt in the foreign exchange market during the day, with the Philippine peso depreciating to 58.83 against the US dollar from its 58.51 close the previous day. It opened the day sideways at 58.65, and traded between 58.85 and 58.63, averaging at 58.75. Volume reached USD1.44 billion, higher than the previous session’s USD1.33 billion.