• Philippine equities erased gains to end lower after the government cut its 2023 growth forecast, citing global slowdown and a near 14-year high inflation.
  • Philippine Stock Exchange Index dipped 0.7% to close at 6,442.13, its third straight day of declines and wiping out an earlier gain of as much as 0.8%
  • 17 of benchmark index’s 30 components traded lower