PSEi trades nearly unchanged as investors get ready for Christmas break

Share prices on the Philippine Stock Exchange (PSE) closed marginally lower on Wednesday, as investors stayed on the sidelines ahead of the Christmas break.

The benchmark PSEi dipped by 3.35 points or 0.04 percent to close at 8,362.61. The broader All Shares fell by 8.52 points or 0.17 percent to 4,893.62.

“A lot are starting to go on vacation already. A lot are on the sidelines and I guess there won’t be much action until the last trading day of the year when may window dressing na,” Miko Sayo, trader at AP Securities Inc., said.

The market is looking at a four-day weekend from December 23 to 26 as the exchange goes on Christmas holiday, after which trading will resume on December 27.

“There’s really nothing except for the window dressing at the end of the year,” Sayo noted.

Foreign funds bought P1.871 billion of shares during the session and sold P2.097 billion for a net selling position of P225.821 million.

More than 830.540 million shares, valued at P5.260 billion, changed hands. Losers led winners, 110 to 84, and 50 issues were unchanged. — VDS, GMA News