MANILA – The Philippine peso ended little changed against the US dollar on Tuesday but the main equities index fell due to anxieties over the reopening of some sectors of the economy after May 15.
The local currency ended the day at 50.31 from its 50.3 close a day ago.
It opened the day at 50.38, sideways from its 50.45 start in the previous session.
It traded between 50.4 and 50.27, resulting in an average of 50.354.
Volume totaled to USD391.85 million, lower than the USD474.21 million a day ago.
On the other hand, the Philippine Stock Exchange index (PSEi) lost 0.29 percent, or 16.26 points, to 5,651.67 points.
All Shares trailed with a drop of 0.32 percent, or 11 points, to 3,415.24 points.
Most of the sectors ended the day up, led by Financials that rose 1.13 percent.
It was followed by Holding Firms, 0.47 percent; Industrial, 0.45 percent; Mining and Oil, 0.42 percent; and Services, 0.36 percent.
Property ended the day in the red with a drop of 3.34 percent.
Volume totaled to 454.17 million shares amounting to PHP5.37 billion.
Advancers led decliners at 87 to 86, while 45 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, cited Malacañang’s announcement during the day, regarding the easing of quarantine restrictions in some areas around the country, as among the factors for Tuesday’s equities trading.
However, Luzon, Laguna and Cebu will be placed under a modified enhanced community quarantine (MECQ) from May 16 until May 31, 2020 as these are considered high-risk areas due to the high number of coronavirus disease (Covid-19) cases.
Under the MECQ, authorities will allow the limited re-opening of some manufacturing and processing firms and limited transportation services. (PNA)
