MANILA -- Geopolitical concerns weakened the peso Monday while investors’ worries on water concessionaires resulted in the negative close of the Philippine Stock Exchange index (PSEi).
The local currency finished the week’s first trading day at 50.975 from 50.891 Friday, which BPI Research attributed to oil supply risk.
This, after oil facilities in Libya and Iraq were shut down because of tensions in the area.
For the day, the local unit opened at 50.93, sideways from its 50.87 start in the previous session.
It traded between 50.83 and 51.04, resulting in an average of 50.913.
Volume reached USD1.56 billion, higher than the USD1.3 billion the previous trading day.
The currency pair is seen to trade between 50.80 and 51.20 on Tuesday.
The main equities index shed 2.20 percent, or 169.98 points, to 7,552.60 points.
All other counters also finished in the red, with the All Shares down by 1.69 percent, or 76.92 points, to 4,474.27 points.
Property declined the highest among the sectors with a drop of 3.88 percent. This was followed by the Holding Firms, 2.20 percent; Mining and Oil, 1.21 percent; Industrial, 1.17 percent; Financials, 1.15 percent; and Services, 0.66 percent.
Volume totaled to 913.7 million shares amounting to PHP6.27 billion.
Decliners led advancers at 130 to 64, while 44 shares were unchanged. (PNA)
