MANILA — Anticipations of rate reductions by several central banks around the globe to counter any impact of the coronavirus disease 2019 (Covid-19) lifted currencies, including the Philippine peso, but the main stocks gauge ended in the red Monday.
The local currency ended the week’s first trading day at 50.63 against the dollar, from its 50.97 close Friday last week, which a trader said is not unique since there are also currencies that improved during the day.
It opened the day at 51.02, weaker than its 50.82 close in the previous session. It traded between 50.62 and 51.095, resulting in an average of 50.856.
Volume totaled USD1.47 billion, lower than the USD1.68 billion a day ago.
The currency pair is seen to trade between 50.70 and 51 on Tuesday.
On the other hand, the Philippine Stock Exchange index (PSEi) shed anew and ended the trade at 6,749.28 points, down 0.57 percent or 38.63 points.
All Shares declined by 0.51 percent, or 20.63 points, to 4,043.69 points.
The industrial index registered the highest drop among the sectoral gauges after it fell 2.29 percent, and was followed by Mining and Oil, 1.68 percent; Financials, 1.53 percent; Holding Firms, 0.76 percent; and Services, 0.41 percent.
Property was the only index that gained during the day after it rose 1.53 percent.
Volume totaled 946.27 million shares amounting to PHP6.52 billion.
Decliners led advancers at 129 to 69, while 46 shares were unchanged. (PNA)
