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PSEi reverses gains, peso keeps footing vs dollar

The Philippine main equities index ended weaker on Friday, a day after it recovered on risk-off sentiments but the peso managed to remain firm against the US dollar.

The Philippine Stock Exchange index lost 0.80 percent, or 55.58 points, to 6,912.85 points.

All Shares declined by 0.64 percent, or 27.69 points, to 4,295.84 points.

Most of the sectoral indexes also ended the week on the red, led by Services after it fell 2.18 percent.

Mining and Oil slipped by 1.69 percent, Property, 1.17 percent; Industrial, 0.73 percent; and Holding Firms, 0.38 percent.

Only the Financials index gained during the day after it rose by 0.69 percent.

Volume reached 1.81 billion shares amounting to P15.22 billion.

Decliners led advancers at 119 to 74 while 52 shares were unchanged.

“Philippine shares ended Friday lower as investors weighed mixed signals in the latest U.S. economic data and a stock market pullback in China,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.

On the other hand, the peso ended the day with little change against the US dollar at 49.95 from 49.97 on Thursday.

It opened the day at 50.04 and traded between 50.05 and 49.86. This resulted in an average of 49.973.

Volume is lower at USD871.75 million compared to the previous session’s USD1.27 billion.*PNA

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