MANILA -- The Philippine Stock Exchange index (PSEi) ended its four-day rise Tuesday while the peso weakened against the greenback due to risk aversion.
The main stocks gauge dipped 0.39 percent, or 30.64 percent to 7,929.48 points, which BPI Research said the decline reflects the cautious trading in the region during the day.
BPI Research said “all eyes” are on the policy decision of the European Central Bank (ECB) on Thursday and the monetary board meetings of the Federal Open Market Committee (FOMC) on September 17 and 18, and the Bank of England (BoE) by next week.
All Shares declined by 0.27 percent, or 12.86 points, to 4,786.45 points.
It was a balance among the sectors with the Property, Holding Firms, and Industrial dropping by 1.11 percent, 0.53 percent, and 0.32 percent, respectively.
Meanwhile, Mining and Oil posted an uptick of 2.53 percent, which was followed by the Services, 0.73 percent, and Financials, 0.06 percent.
Volume was muted at 613.733 million shares amounting to PHP5.22 billion.
Losers led gainers at 92 to 91, while 56 shares were unchanged.
Also, the local currency ended the day’s trade at 51.98, weaker than its 51.865 close a day ago.
A trader attributed this also to wait-and-see stance ahead of the rate setting meet of the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) on September 26.
It opened the day at 51.9, little changed from the 51.88 start in the previous session.
It traded between 51.84 and 52.04, bringing the day’s average to 51.943.
Total volume of transactions during the day reached USD1.495 billion, up from day-ago’s USD1.07 billion.
The currency pair is seen to trade between 51.90 and 52.10 Wednesday. (PNA)
