RISK-OFF. Consolidation again resulted in the negative close of the main equities index on Thursday (July 21, 2022). However, the peso continued its sideways close against the US dollar despite the negative sentiments.
MANILA – Risk-off sentiments resulted in another negative close of the local bourse’s main index on Wednesday while the peso still finished sideways against the US dollar.
The Philippine Stock Exchange index (PSEi) slipped by 0.30 percent, or 18.63 points, to 6,256.17 points.
All Shares ended flat after rising by 0.01 percent, or 0.33 points, to 3,381.86 points.
Most of the sectoral counters tracked the main index, led by Property with a decline of 0.73 percent.
Trailing behind were Holding Firms, 0.68 percent; Industrial, 0.17 percent; and Services, 0.12 percent.
On the other hand, Mining and Oil rose by 1.94 percent and Financials by 1.26 percent.
Volume reached 807.09 million shares amounting to PHP6.1 billion.
Advancers led decliners at 107 to 69, while 60 shares were unchanged.
“Philippine stocks continued to consolidate as traders bet that markets worldwide have hit bottom with tech(nology) stocks,” said Luis Limlingan, Regina Capital Development Corp. (RCDC) head of sales.
Meanwhile, the peso managed to finish sideways against the greenback after closing at 56.35 from the previous day’s 56.29.
It opened the day at 56.34 and traded between 56.43 and 56.26.
The day’s average stood at 56.345.
Volume declined to USD647.45 million from the previous day’s USD710.05 million. (PNA)
