MANILA -- The peso closed at the 51-level against the US dollar on Tuesday while the Philippine Stock Exchange index (PSEi) again ended in the red on investors’ worries on oil supply and prices in the international market.
The local unit finished the day’s trade at 51.015 to a US dollar from its 50.975 close Monday, which BPI Research attributed to “lower equities and resurfacing fears of oil supply disruption due to rising Mideast tensions.”
For the day, the peso opened at 50.975, sideways from the 50.93 start in the previous session.
It traded between 51.1 and 50.975, resulting in an average of 51.039.
Volume of trade reached USD1.35 billion, lower than the USD1.6 billion a day ago.
The peso is seen to trade between 50.90 and 51.20 on Wednesday.
The PSEi shed 1.14 percent, or 85.95 points, to 7,466.65 points.
All Shares declined by 0.88 percent, or 39.56 points, to 4,434.71 points.
Financials registered the highest drop with 1.56 percent. This was trailed by the Holding Firms, 1.32 percent; Services, 0.92 percent; Property, 0.66 percent; Industrial, 0.56 percent; and Mining and Oil, 0.19 percent.
Volume totaled to 741.11 million shares amounting to PHP7.76 billion.
Losers led gainers at 132 to 67, while 38 shares were unchanged. (PNA)
