MANILA – The main equities index recovered Wednesday but the peso weakened against the US dollar, still on worries on the possible coronavirus disease 2019 (Covid-19) vaccine and the US stimulus program.
The Philippine Stock Exchange index (PSEi) rose by 0.03 percent, or 2.07 points, to 5,925.30 points.
All Shares increased by 0.31 percent, or 10.95 points, to 3,580.09 points.
Most of the sectoral indices also finished the day’s trade up, led by the Financials, 1.25 percent.
Property jumped by 0.34 percent, Mining and Oil by 0.10 percent, and Industrial, 0.07 percent.
Services went down by 0.86 percent and Holding Firms by 0.38 percent.
Volume totaled 2.8 billion shares amounting to PHP5.97 billion.
Gainers led losers at 101 to 80, while 60 shares were unchanged.
“The PSEi ended flat once again as the efforts of some US drug-makers to come up with an effective vaccine and therapeutic to the Covid-19 disease was halted,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
He also cited reports about the continued delay in the talks for the proposed stimulus measures in the US, and the latest growth forecast of the International Monetary Fund (IMF).
Meanwhile, the local currency depreciated against the US dollar after ending the day’s trade at 48.65 from the previous session’s 48.535.
This performance showed early on after the peso opened the trade at 48.67, weaker than its 48.57 start in the previous day.
It traded between 48.69 and 48.565, resulting in an average of 48.623.
Volume totaled to USD715.61 million, lower than day-ago’s USD821.6 million. (PNA)
