Despite the Federal Reserve (Fed) trimming rates, trading was still down on Thursday as market sentiments soured on the possibility that no further rate cut is seen for the rest of the year.

The benchmark Philippine Stock Exchange index (PSEi) dipped by 0.05 percent or 3.97 points to finish at 7,911.32, while the wider All Shares dropped by 0.07 percent or 3.47 points to end at 4,782.96.