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MANILA, Philippines — Philippine stocks slipped on Wednesday as investors turned cautious after President Ferdinand Marcos Jr. warned about stagflation risks amid lingering economic pressures.
The benchmark Philippine Stock Exchange Index (PSEi) slipped by 0.06 percent or 3.40 points, to close at 5,893.40.
Luis Limlingan, head of sales at Regina Capital Development Corp., said investors remained on the sidelines as concerns over elevated oil prices and slowing growth continued to cloud market sentiment.
“The local market ended flat as investors stayed cautious after President Marcos flagged risks of stagflation amid lingering economic pressures,” Limlingan said.
