The Philippine Stock Exchange index (PSEi) closed flat on Monday and the peso traded weak as well.
The PSEi ended the day at 6,615.16 points, slipping by 0.02 percent, with All Shares also flat at 3,752.51 level.
Philstock Financials research manager Japhet Tantiangco said last-minute bargain hunting trimmed the day’s losses.
“The local market inched down as investors took a cautious stance while waiting for the Federal Reserve and the Bangko Sentral ng Pilipinas’ policy meetings this week. The local currency’s depreciation against the US Dollar also weighed on the market,” he said.
Among indices, only Financials and Holding Firms recorded with gains at 0.87 and 0.28 percent, respectively.
This day’s losers were Mining and Oil, down by 1.01 percent; Industrial, down by 0.879 percent; Property, down by 0.44 percent; and Services, down by 0.25 percent.
Decliners outpaced losers at 100 to 87, leaving 66 counters unchanged.
Meanwhile, the peso closed weak losing 0.20 to finish at 58.67 from last week’s ending of 58.47 to a US dollar.
It already opened the day weak at 58.60 before trading between 58.60 and 58.74, leaving the average level for the day at 58.69 to the greenback.
Volume of trade reached USD1.48 billion, lower than the USD1.57 billion level last Friday.*PNA
