MANILA – Worries about the rising number of coronavirus disease 2019 (Covid-19) cases mainly resulted in the depreciation of the Philippine peso and the negative close of the main equities index Monday.
The local currency finished the day at 51.33 from 50.97 Friday last week.
It opened the day at 51.15 and traded between 51.33 and 51.11. Average level for the day stood at 51.22.
Volume totaled to USD422.7 million, lower than the USD576 million in the previous session.
The Philippine Stock Exchange index (PSEi) slipped by 0.74 percent, or 35.39 points, to 4,743.37 points.
All Shares followed with a 0.73 percent, or 21.63 points, decline to 2,927.02 points.
It was, however, a mix among the sectors, with the Mining and Oil index up by 4.06 percent, Holding Firms by 0.90 percent, and Services, 0.33 percent.
On the other hand, Financials dropped by 5.12 percent, Industrial by 1.37 percent, and Property by 1.12 percent.
Volume totaled to 413.311 million shares amounting to PHP5.68 billion.
Decliners led advancers at 133 to 55, while 35 shares were unchanged.
Economists have said that volatility is highly expected to date given the rise of Covid-19 cases here and abroad, and the monetary policy decisions of central banks around the globe to help address the economic impact of the global pandemic. (PNA)
