MANILA – Heightened concerns on the geopolitical tensions surrounding Russia and Ukraine further dampened investors’ sentiments, resulting in the negative close of both the local stock barometer and the peso on Thursday.
The Philippine Stock Exchange index (PSEi) declined by 2.06 percent, or 151.98 points, to 7,212.23 points.
All Shares followed with a drop of 1.91 percent, or 75.01 points, to 3,842.85 points.
Majority of the sectoral gauges also finished the day in the negative territory with Industrial declining 2.85 percent; Property, 2.60 percent; Financials, 1.94 percent; Services, 1.86 percent; and Holding Firms, 1.62 percent.
Only Mining and Oil rose 0.13 percent.
Volume reached 2.82 billion shares amounting to PHP9.94 billion.
Decliners surpassed advancers at 168 to 43, while 34 shares were unchanged.
“Philippine shares slipped ahead of the long holiday as reports of cyberattacks on several Ukrainian state websites added to fears about escalating tensions with Russia,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.
Limlingan also cited anticipations for a Federal Reserve rate hike starting next month as another factor that affected the local bourse.
There will be no trading in the local stock market and the foreign exchange market on Friday because of the observance of the People Power Revolution anniversary.
Meanwhile, the risk-off sentiments in the equities market were also felt in the foreign exchange market with the peso ending the day at 51.34 against a US dollar, weaker than its 51.1 close a day ago.
This performance showed early on after the local unit opened the day at 51.18 from 51.35 on Wednesday.
It traded between 51.44 and 51.17, resulting in an average of 51.291.
Volume reached USD1.16 billion, higher than the previous day’s USD934.2 million. (PNA)
