MANILA – The release of economic data this week, which are expected to impact Federal Reserve’s rate decisions, dampened the local stock barometer on Tuesday but the peso managed to keep its footing against the US dollar.
The Philippine Stock Exchange index (PSEi) shed 0.27 percent, or 19.27 points, to 7,115.09 points.
All Shares slipped by 0.30 percent, or 11.52 points, to 3,770.53 points.
Most of the sectoral gauges tracked the main index namely Mining and Oil, 3.99 percent; Holding Firms, 0.71 percent; Services, 0.49 percent; and Property, 0.22 percent.
On the other hand, Industrial rose by 0.46 percent and Financials by 0.26 percent.
Volume remained thin at 788.02 million shares amounting to PHP4.9 billion.
Decliners surpassed advancers at 92 to 82, while 57 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales, said reports on US’ consumer confidence and home prices are scheduled for release later in the day while jobs reports are set to be released on Friday.
He said developments in the Ukraine-Russia situation, as well the decline in the prices of oil in the international market, also affected investors’ sentiments.
US West Texas Intermediate (WTI) crude futures declined by around 7 percent to USD105.96 per barrel, while Brent crude futures slipped by almost 7 percent to USD112.48 per barrel.
Meanwhile, the local currency finished the day at 52.075 against the US dollar, sideways from its 52.13 close on Monday.
It opened the day at 52.07, an improvement compared to its 52.18 start the previous day.
It traded between 52.13 and 52.99, resulting in an average of 52.069.
Volume reached USD1.047 billion, higher than the previous day’s USD778.55 million. (PNA)
