MANILA – Local shares and the peso ended Friday in the negative territory as investors weighed the impact of another extension of the enhanced community quarantine (ECQ) in the National Capital Region (NCR) and other areas.
After a recovery Thursday, the Philippine Stock Exchange index (PSEi) lost 2.40 percent, or 134.57 points, to 5,464.98 points.
All Shares declined by 1.70 percent, or 58.08 points, to 3,350.73 points.
Most sectoral gauges mirrored the main index, led by the Property that fell 4.37 percent.Holding Firms slipped by 3.25 percent; Industrial, 0.79 percent; Financials, 0.54 percent; and Mining and Oil, 0.37 percent.
Only the Services index gained during the day after it rose 0.17 percent.
Volume totaled 829.26 million shares, amounting to PHP5.24 billion.
Losers surpassed gainers at 105 to 76, while 48 shares were unchanged.
Regina Capital managing director Luis Limlingan said aside from the extension of the ECQ until May 15 in the NCR, Central Luzon, Calabarzon, and several high-risk areas, investors also took note of the rise in the number of coronavirus disease 2109 (Covid-19) infections in California and Texas in the US and Spain.
On the other hand, Covid-19-related hospitalization in New York is relatively flat while recoveries surpassed new infections in Italy.
The negative sentiment in the local bourse was reflected in the weakening of the local currency, which ended the week at 50.84 to the dollar from its 50.67 close a day ago.
It opened the day at 50.68, little changed from its 50.7 start in the previous session, and traded between 50.85 and 50.68, bringing the average for the day to 50.751.
Volume totaled USD391.68 million, higher than the USD290 million a day ago. (PNA)
