MANILA -- Need for clarity of the US-China trade deal, which remains informal after the meeting between officials of the two countries last week, made investors took a wait-and-see stance that reversed the rise of Philippines’ main equities gauge while the peso ended slightly lower.
The Philippine Stock Exchange index (PSEi) ended its three-day rally after losing 0.56 percent, or 43.98 points, to 7,840.31 points.
All Shares shed 0.39 percent, or 18.77 points, to 4,740.32 points.
Most of the sectors tracked the main index, led by the Property at 1.05 percent.
Holding Firms followed with a drop of 0.74 percent, and was trailed by Mining and Oil, 0.68 percent; Services, 0.34 percent; and Industrial, 0.04 percent.
Only the Financials improved during the day after it rose 0.21 percent.
Volume reached 631.01 million shares amounting to PHP4.6 billion.
Losers led gainers at 111 to 65, while 63 shares were unchanged.
On the other hand, the local currency finished the day’s trade at 51.641, slightly weaker compared to its 51.57 close Monday.
It opened the day at 51.55 from 51.57 a day ago.
It traded between 51.675 and 51.5, bringing the day’s average at 51.588.
Volume reached USD1.37 billion, higher than the previous session’s USD1.27 billion.
The currency pair is seen to trade between 51.50 and 51.70 on Wednesday. (PNA)
