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According to the report, the Philippine peso weakened against the US dollar on Wednesday, and this, along with profit-taking, hit the Philippine Stock Exchange index (PSEi) during the day.
The report stated that the local currency finished the day’s trade at 58.92, weaker than its 58.52 close on Tuesday. It opened the day sideways at 58.55, and ranged between 58.92 and 58.5. The average for the day stood at 58.75.
The report added that the decline was to USD1.41 billion from the day-ago’s USD1.49 billion. This negatively affected trading in the local bourse, with the main index ending the day 1.48 percent lower to 5,905.84 points, and the broader All Shares went down by 0.31 percent to 3,464.79 points. Most of the sectoral gauges finished in the red, led by the Services after it fell 2.61 percent. Decliners led advancers at 105 to 86 while 46 shares were unchanged.
The report said that market sentiment was subdued due to the depreciation of the Philippine peso against the US dollar. Overall, trading remained cautious as investors awaited clearer market signals.
Source: PNA
The report stated that the local currency finished the day’s trade at 58.92, weaker than its 58.52 close on Tuesday. It opened the day sideways at 58.55, and ranged between 58.92 and 58.5. The average for the day stood at 58.75.
The report added that the decline was to USD1.41 billion from the day-ago’s USD1.49 billion. This negatively affected trading in the local bourse, with the main index ending the day 1.48 percent lower to 5,905.84 points, and the broader All Shares went down by 0.31 percent to 3,464.79 points. Most of the sectoral gauges finished in the red, led by the Services after it fell 2.61 percent. Decliners led advancers at 105 to 86 while 46 shares were unchanged.
The report said that market sentiment was subdued due to the depreciation of the Philippine peso against the US dollar. Overall, trading remained cautious as investors awaited clearer market signals.
Source: PNA