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Stocks closed lower while the peso remained unchanged on Wednesday.

The Philippine Stock Exchange index ended at 7,323.26, down 47.29 points. Transactions were lower with volume amounting to 930.11 million shares worth P5.46 billion. On Tuesday, trades were 1.24 billion shares worth P7.89 billion.

Foreign selling reached P2/57 billion while foreign buying drew P2.49 billion.

The peso remained steady at P49.81 against the US dollar. Volume at the Philippine Dealing System reached $377.50 million from $624.90 million. DMS