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Peso ends sideways, PSEi slips

            The peso again ended the trade to its over four-year high against the US dollar but the main stocks index slipped for the fourth consecutive day partly due to Morgan Stanley Capital International (MCSI) rebalancing.

            The local currency finished the trade at 48.06, its strongest since it closed at 47.99 on Sept. 23, 2016. It finished Thursday at 48.115.

            It traded between 48.13 and 48.055, resulting in an average of 48.085.

            Volume totaled to USD783.4 million, higher than the previous day’s USD575.71 million.

            Meanwhile, the Philippine Stock Exchange index (PSEi) shed by 1.97 percent, or 136.29 points, to 6,791.46 points.

            All Shares also declined after ending the day at 4,100.28 points, down 0.91 percent or 37.81 points.

            Most of the sectoral gauges also finished the day on the red, led by the Holding Firms, which fell by 2.90 percent.

            Financials dropped by 2 percent, Industrial by 1.24 percent, and Property by 0.42 percent.

            On the other hand, Mining and Oil gained by 1.86 percent and Services by 0.23 percent.

            Volume totaled by 4.52 billion shares amounting to PHP27.65 billion.

            Gainers led losers at 129 to 75, while 50 shares were unchanged.

            Local shares fell below the 6,800 mark as investors re-aligned with the latest MSCI rebalancing which takes effect at the end of the month, Luis Limlingan, Regina Capital Development Corp. head of sales, said.

            He also attributed the continued negative close of the main equities gauge to the Thanksgiving holiday in the US that made some investors take profit.*PNA

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