MANILA -- The local stock barometer opened the week on a weak note, mirroring losses of regional peers amid increasingly violent protests in Hong Kong, while the peso closed slightly lower against the dollar.
The Philippine Stock Exchange index (PSEi) lost 56.38 points or 0.70 percent to 8,009.38 on Monday.
“We were in line with our regional neighbors in Asia, with investor sentiment taking a hit after an escalation in the protests in Hong Kong,” AAA Equities president William Matthew Cabangon said.
Cabangon said foreign investors continue to pressure the local market with PHP1.38 billion worth of net foreign selling.
All counters ended in the negative territory, led by mining and oil and property indices which lost 2.42 percent and 1.14 percent, respectively.
Volume reached 827.87 million shares amounting to PHP5.39 billion.
Losers outpaced gainers 107 to 77, while 47 shares were unchanged.
The local currency closed at 50.86 from 50.49 Friday.
It traded 50.6 to 50.888, resulting in an average of 50.717.
Volume totaled to USD1.046 billion, higher than the USD789.65 million. (PNA)
