MANILA -- Wait-and-see stance on trade and impeachment issues in the US resulted in another sideways close for the Philippine peso and the negative finish for the local bourse Tuesday.
The local currency finished the day’s trade at 50.735 from 50.77 Monday, which a trader attributed to the uncertainties on the US-China trade talks and the impeachment case against US President Donald Trump.
These factors made investors wary of the consequence on the economy resulting in the little change in the peso’s opening for the day at 50.82 from day-ago’s 50.83.
It traded between 50.82 and 50.70, bringing the day’s average to 50.736.
Volume totaled to USD742.36 million, higher than the USD653.4 million Monday.
The currency pair is seen to range between 50.70 and 50.90 on Wednesday.
Risk-off sentiments also continued to affect the Philippine Stock Exchange index (PSEi), which fell 0.56 percent, or 43.62 points, to 7,736.18 points.
All Shares index slipped by 0.60 percent, or 27.87 points, to 4,610.01 points.
Most of the sectoral counters also ended in the red, led by the Industrial, which fell 1.23 percent.
It was followed by Financials, 1.21 percent; Services, 0.69 percent; Holding Firms, 0.45 percent; and Mining and Oil, 0.32 percent.
Only the Property index gained during the day which rose 0.55 percent.
Volume totaled to 525.65 million shares amounting to PHP3.9 billion.
Decliners led advancers at 139 to 55, while 44 shares were unchanged. (PNA)
