MANILA -- The peso stayed firm against the greenback Wednesday, while the Philippine Stock Exchange index (PSEi) reversed to losses a day after recovery.
The local currency finished the day at 50.87 from 50.9 finish a day ago, which a trader pointed to risk-off sentiment given trade-related concerns abroad.
It opened the day weak at 50.97 from 50.79 Tuesday.
It traded between 50.87 and 51.025, resulting in an average of 50.959.
Volume reached USD947.5 million, lower than the USD959.75 million a day ago.
The currency pair is seen to trade between 50.90 and 51.10 on Thursday.
On the other hand, the main equities index shed 0.18 percent, or 14.08 points, to 7,898.06 points.
Regina Capital Managing Director Luis Limlingan attributed the day’s decline to concerns on the US-China trade talks.
Most counters ended on the red, with All Shares down by 0.26 percent, or 12.32 points, to 4,717.40 points.
Mining and Oil posted the highest decline among the sectors after losing by 1.40 percent. It was trailed by Industrial, 0.47 percent; Financials, 0.31 percent; and Holding Firms, 0.24 percent.
On the other hand, Property rose 0.40 percent, and Services, 0.003 percent.
Volume reached 1.73 billion shares amounting to PHP4.13 billion.
Losers led gainers at 106 to 72, while 52 shares were unchanged. (PNA)
