MANILA -- The local stock barometer slipped while the peso closed slightly lower on Monday on renewed concerns over the on-going trade war between China and United States.
The benchmark Philippine Stock Exchange index (PSEi) declined by 22.08 points or 0.29 percent to 7,725.01.
“Philippine shares suffered losses with investors worried the US-China trade war is hurting economic growth,” Regina Capital Development Corporation Managing Director Luis Limlingan said.
Limlingan pointed out that US markets closed for the Memorial Day holiday, leaving no catalysts to buy into the market Monday.
At home, the sectoral indices were a mixed bag with services, industrial and financials closed in negative territory.
The mining and oil, holding firms and property gained slightly.
Volume of transactions for the day reached 706.12 million shares amounting to PHP5.53 billion.
Decliners edged gainers, 99 to 89, while 56 shares were unchanged.
Meanwhile, the peso finished the day slightly lower against the US dollar at 52.22 from Friday’s 52.16 close.
The local currency opened at 52.15 from previous day’s 52.5.
It traded between 52.075 and 52.23, resulting in an average of 52.153.
Total volume reached USD633.31 million, lower than the previous session’s USD846.86 million. (PNA)
