MANILA – Both the Philippine stocks’ main index and the peso ended sideways on Tuesday as investors remain worried about the impact of the coronavirus disease 2019 (Covid-19).
The Philippine Stock Exchange index (PSEi) gained 0.09 percent, or 5.77 points, to 6,318.38 points, which BPI Research said was achieved despite volatile trading “as market players digested virus-related headlines globally and locally.”
All Shares slipped by 0.70 percent, or 26.70 points, to 3,788.52 points.
Only the Financials ended the day with gains among the sectoral indices after it rose 5.006 percent.
Industrial registered the highest drop after it fell 2.21 percent, and was followed by the Mining and Oil, 2.12 percent; Property, 1.16 percent; Services, 0.71 percent; and Holding Firms, 0.70 percent.
Volume totaled 774.46 million shares amounting to PHP7.4 billion.
Losers surpassed gainers at 136 to 74, while 36 shares were unchanged.
The peso finished the day’s trade at 50.5 from 50.58 the previous day.
BPI Research said the peso’s close for the day was in line with the performance of other currencies in the region.
Another boost to the local currency is the narrower year-on-year trade gap for the Philippines last January at USD3.5 billion as against the USD3.9 billion in January 2018.
Last January’s merchandise trade deficit is, however, higher than the USD2.5 billion last December.
With these factors, the peso traded between 50.57 and 50.47 after opening the trade at 50.57. Average level for the day stood at 50.513.
Volume totaled USD879 million, higher than the USD771 million in the previous session.
The peso is seen to trade between 50.40 and 50.70 on Wednesday. (PNA)
