The Philippine Stock Exchange Index fell 0.16 percent, or 10.33 points, to close at 6,286.31 on Wednesday as investors locked in gains late in the session, according to Inquirer reporting. Local stocks initially gained on inflation data that slowed to 6.2 percent in July, raising hopes for a more accommodative monetary policy from the Bangko Sentral ng Pilipinas, but selling pressure intensified toward the close.

"Investors initially welcomed the softer inflation data, raising hopes for a more accommodative monetary policy outlook. However, selling pressure intensified toward the close as traders locked in recent gains, resulting in a weaker finish," said Luis Limlingan, head of sales at Regina Capital Development Corp.

The broader market showed relative resilience, with 102 advancing stocks outnumbering 84 decliners. Mining and oil was the only sector to finish higher, climbing 4.63 percent, while financials, industrials, properties, services and holdings all declined. Foreign investors were net sellers, unloading P585 million in local shares, Inquirer business (PH) reports.