MANILA – The Philippine Stock Exchange index (PSEi) shed Wednesday but the peso managed to stay strong and ended sideways against the US dollar.
The main equities index lost 1.40 percent, or 101.01 points, to 7,102.66 points.
All Shares declined by 0.77 percent, or 32.92 points, to 4,253.13 points.
Most of the sectoral indexes tracked the main gauge, led by the Property, which fell by 1.81 percent.
Holding Firms index slid by 1.78 percent, Services by 1.65 percent, and Financials by 0.47 percent.
On the other hand, Mining and Oil rose by 3.81 percent and Industrial by 0.74 percent.
Volume totaled to 99.2 billion shares amounting to PHP9.88 billion.
Gainers led losers at 132 to 117, while 27 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, attributed PSEi’s drop partly to capital flight to countries that first secured the coronavirus disease 2019 (Covid-19) vaccines.
The United Kingdom started this week its Covid-19 vaccination program after it acquired about 800, 000 dozes from Pfizer. Russia is currently implementing a similar program.
Amidst the negative close of the PSEi, the local currency finished the trade sideways against the greenback at 48.05 from 48.08 last Monday.
There was no trading on Tuesday because of the Feast of Immaculate Conception, a national holiday.
The local currency opened the day at 48.12 and traded between 48.125 and 48.05.
Average level for the day stood at 48.081.
Volume totaled to USD505.8 million, lower than the previous session’s USD539.45 million. (PNA)
