MANILA – The local stock barometer snapped a five-day winning streak on Tuesday amid the challenging session in the region following the hikes in US Treasuries, but the peso ended flat against the US dollar.
The Philippine Stock Exchange index (PSEi) lost 1.02 percent, or 70.9 points, to 6,885.36 points.
All Shares followed with a decline of 1.04 percent, or 45.23 points, to 4,284.72 points.
The majority of the sectoral gauges tracked the PSEi with Services declining by 1.82 percent; Industrial, 1.73 percent; Mining and Oil, 1.64 percent; and Holding Firms, 1.29 percent.
On the other hand, the Financials index inched up by 0.19 percent while Property moved sideways with a rise of 0.01 percent.
Volume totaled 2.14 billion shares amounting to PHP15.04 billion.
Decliners led advancers at 135 to 75, while 38 shares were unchanged.
“Philippine shares dropped as regional markets had a choppy session, and as Treasury yields rose on economic recovery and inflation worries, briefly hitting 1.50 percent –the highest since June,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
Meanwhile, the peso ended the day flat at 51.00 to a US dollar.
It opened the day at 50.95, weaker than its 50.72 start in the previous session.
It traded between 51.00 and 50.85, resulting in an average of 50.947.
Volume totaled USD1.21 billion, lower than the USD1.26 billion on Monday. (PNA)
