MANILA – The peso ended sideways against the US dollar on Monday but the main equities index ended on the negative territory amid renewed coronavirus fears.
The Philippine Stock Exchange index (PSEi) declined by 0.40 percent, or 24.81 points, to 6,172.57 points.
All Shares contracted by 0.52 percent, or 18.85 points, to 3,633.75 points.
Half of the sectoral indices ended the day in the red, with the Financials counter declining by 0.99 percent; Property, 0.80 percent; and Holding Firms, 0.71 percent.
The Mining and Oil counters rose by 1.26 percent, Services by 0.58 percent, and Industrial by 0.37 percent.
Volume totaled 907.56 million shares amounting to PHP4.64 billion.
Losers led gainers at 136 to 69, while 34 shares were unchanged.
“Local shares closed lower on refreshed pandemic fears, and with investors looking ahead to the US earnings season,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
This, as coronavirus disease 2019 (Covid-19) infections continue to rise around the globe and vaccine against the coronavirus disease has yet to be developed.
News reports said US President Donald Trump considers as unlikely a Phase Two deal with China given the recent rift between the two economic giants.
Among the major catalysts from the US for this week’s trading are the reports on the June inflation, jobless claims, and housing statistics.
At home, the local currency finished the day’s trade at 49.45 from 49.485 Friday last week.
It opened the day at 49.455 from 49.5 in the previous session.
It traded between 49.455 and 49.375, resulting in an average of 49.407.
Volume totaled to USD667.15 million, lower than the USD684.9 million at the end of last week. (PNA)
