MANILA – The Philippine Stock Exchange index (PSEi) ended its three-day rally on Friday, mirroring its counterparts in the US, while the peso closed the day sideways against the US dollar.
The main equities index shed 2.94 percent, or 194.75 points, to 6,436.10 points.
All other indexes finished in the negative territory, with All Shares down by 2.39 percent, or 95.68 points, to 3,909.41 points.
Property registered the highest decrease among the sectoral gauges after it fell 4.48 percent.
Financials declined by 2.63 percent, Services, 2.58 percent; Holding Firms, 2.47 percent; Mining and Oil, 1.25 percent; and Industrial, 0.72 percent.
The volume of trade reached 3.53 billion shares amounting to PHP10.41 billion.
Losers led gainers at 157 to 64, while 35 shares were unchanged.
“Philippine shares were sold down towards (the) market on close as funds realigned with the latest FTSE (Financial Times Stock Exchange) rebalancing decision,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
Limlingan said the negative sentiments “spilled over as US equities ended lower yesterday, as the rise in treasury yields prompted investors to sell tech stocks.”
Meanwhile, the peso closed the trade sideways against the greenback at 48.62 from 48.68 close in the previous session.
It opened the day at 48.66 and traded between 48.71 and 48.6.
The average level for the day stood at 48.674.
Volume totaled USD588.6 million, lower than the USD743.3 million. (PNA)
