Sun. Jan 16th, 2022

MANILA – The peso ended sideways against the greenback on Wednesday but the main equities index slipped anew due to concerns on the reopening of the economy.

The local currency finished the day at 50.26 from 50.31 on Tuesday.

It opened at 50.32 from 50.38 the previous day, trading between 50.32 and 50.26 and resulting in an average of 50.282.

Volume reached USD390.5 million, lower than the USD391.85 million in Tuesday’s session.

On the other hand, the Philippine Stock Exchange index (PSEi) fell for the second consecutive day and closed the trade at 5,626.25 points, down 0.45 percent or 25.42 points.

All Shares declined by 0.45 percent, or 15.26 points, to 3,399.98 points.

Most of the sectoral indices tracked the main index, led by Mining and Oil, which fell 1.28 percent.

Financials slipped by 0.89 percent, Services by 0.78 percent, and Property by 0.76 percent, and Holding Firms, 0.19 percent.

Volume totaled 422.9 million shares amounting to PHP4.8 billion.

Losers led gainers at 111 to 64, while 48 shares were unchanged.

Luis Limlingan, Regina Capital Development Corp. head of sales, traced the negative close of the local main index to investors’ assessment of the “latest attempts to reopen the economy across the region and the failure among US politicians to finalize a new stimulus.” (PNA)

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