Wed. May 18th, 2022

By Joann Villanueva

MANILA — Anxieties over the impact of the coronavirus disease 2019 (Covid-19) on the economy continue to hit the financial market, resulting in the sideways close of both the equities index and the peso Tuesday.

The Philippine Stock Exchange index (PSEi) shed 0.05 percent, or 3.96 points, to 7,322.89 points, which BPI Research said mirrored the performance of its counterparts in the region.

BPI Research also cited reports about Apple not going to meet its revenues given the impact of Covid-19 on the supplies from China.

There was some risk-off sentiment in the local equities, with the All Shares up by 0.05 percent.

It was also a mix among the sectors, with Services rising by 1.31 percent and was trailed by the Mining and Oil, 0.67 percent; and Property, 0.03 percent.

Financials fell 0.99 percent, Industrial, 0.37 percent; and Holding Firms, 0.01 percent.

Volume totaled to 503.9 million shares amounting to PHP5.33 billion.

Decliners surpassed gainers at 101 to 86, while 45 shares were unchanged.

The local currency ended at 50.645 from its 50.57 close Monday.

It opened the day sideways at 50.63 and traded between 50.65 and 50.57, resulting in an average of 50.613.

Volume totaled to USD933.9 million, lower than the USD971.5 million a day ago.

The currency pair is seen to trade between 50.50 and 50.80 on Wednesday. (iam/

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