MANILA -- Renewed concerns on the US-China trade deal, which reports said would be signed Wednesday, proved negative for both the Philippines’ main stocks gauge and currency.
The Philippine Stock Exchange index (PSEi) lost 1.65 percent, or 128.85 points, to 7,664.40 points, which a trader attributed to issues ahead of the signing of the first phase of the US-China trade pact.
All Shares contracted by 1.45 percent, or 66.67 points, to 4,539.30 points.
Financials led the sectoral indices in terms of losses after it fell 1.85 percent. It was followed by Holding Firms, 1.68 percent; Industrial, 1.57 percent; Services, 1.40 percent; and Property, 1.06 percent.
Only Mining and Oil proved resilient for the day after it rose 0.23 percent.
Volume for the day totaled 667.02 million shares amounting to PHP7.04 billion.
Losers led gainers at 118 to 76, while 35 shares were unchanged.
The peso ended the day’s trade at 50.715 from the previous session’s 50.58 close.
Its weakness showed early on after it opened the day at 50.68 from 50.4 start Tuesday.
It traded between 50.75 and 50.63, bringing the day’s average to 50.707.
Volume totaled to USD1.25 billion, lower than day-ago’s USD1.41 billion.
The currency pair is seen to trade between 50.60 and 50.80 on Thursday. (PNA)
