MANILA – The peso ended Wednesday sideways against the US dollar but the Philippine Stock Exchange index (PSEi) ended in the negative territory.
The main equities index finished the trade down by 1.05 percent, or 60.85 points, to 5,738.39 points.
Most other counters tracked the main gauge, with the All Shares contracting by 0.78 percent, or 27.25 points, to 3,474.01 points.
Property posted the biggest drop among the sectors with 2.54 percent, and was followed by the Financials, 1.63 percent; Mining and Oil, 0.98 percent; Holding Firms, 0.60 percent; and Industrial, 0.14 percent.
Only the Services index ended positively after a 0.08-percent gain.
Volume totaled to 1.51 billion shares amounting to PHP6.38 billion.
Losers led gainers at 111 to 64, while 55 shares were unchanged.
“Philippines closed lower for another straight session as investors digested data out of China and the Eurozone,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
He said geopolitical issues involving China and the US, and China and Australia continue to impact on investors’ sentiment.
Limlingan added investors took note of the drop in coronavirus disease 2019 (Covid-19) infections in the US, which is a plus towards economic recovery.
Meanwhile, the local currency finished the trade at 48.53, also from 48.48 a day ago.
The local unit started and finished the trade on the same level as the previous day.
It opened the day at 48.53, sideways from 48.48 Tuesday.
It traded between 48.63 and 48.53, resulting in an average of 48.591.
Volume totaled to USD701.95 million, lower than the previous session’s USD819.1 million. (PNA)