MANILA -- Risk aversion again hurt both the Philippine Stock Exchange index (PSEi) and the peso Tuesday.
The main equities gauge gave up 1.44 percent, or 113.82 points, to 7,804.71 points.
Regina Capital Managing Director Luis Limlingan traced the decline to the implementation by the US government of the 15-percent tariff on USD112 billion worth of Chinese products starting on the first day of this month.
“Investors in the Asian markets also had their eyes glued to the tariff scene as bourses also closed lower,” he said.
The negative close of the main index was reflected in most of the counters, with the All Shares down by 1.19 percent, or 56.98 points, to 4,740.61 points.
Holding Firms posted the highest decline at 1.86 percent, followed by the Services, 1.61 percent; Property, 1.27 percent; Industrial, 1.06 percent; and Financials, 0.48 percent.
Mining and Oil index was the sole gainer for the day after it rose 2.49 percent.
Volume of transactions remained high with a total of 1.19 billion shares amounting to PHP6.83 billion changed hands during the trading day.
Decliners outpaced advancers at 125 to 67, while 56 shares were unchanged.
Relatively, the local currency ended the day weaker against the US dollar at 52.31 from 52.105 finish a day ago.
It opened the day sideways at 52.23 compared to the 52.17 start in the previous session.
It traded between 52.365 and 52.19, resulting in an average of 52.258.
Volume totaled to USD1.34 billion, an increase from the previous session’s USD1.23 billion. (PNA)
