MANILA – The local bourse extended its shedding amid profit-taking as the peso depreciated against the US dollar on Thursday.
The Philippine Stock Exchange index (PSEi) fell 0.18 percent to 7,411.47, while All Shares gained 0.10 percent to close at 4,037.52.
Counters were mixed with gainers, including Property (+0.55 percent), Holding Firms (+0.28 percent), and Financials (+0.19 percent).
Those that finished in the red were Services (-1.55 percent), Mining and Oil (-0.99 percent), and Industrial (-0.29 percent).
“Investors continued to take profits amid the peso’s sustained depreciation, now going further below the 57.00 mark,” Philstocks Financial, Inc. research manager Japhet Tantiangco said.
“Trading was still tepid with net value turnover registering PHP4.05 billion, below the year-to-date average of PHP5.21 billion. Foreigners were net sellers for a second straight day with net outflows amounting to PHP73.58 million.”
Meanwhile, the Philippine peso continued to trade at the 57-level versus the US dollar.
The peso closed weak at 57.37 against the dollar, shedding 0.35 from its 57.02-finish on Wednesday.
It opened the day weak at 57.15 from a kick-off of 56.89 before trading between a low of 57.11 and a high of 57.36
The day’s average settled at 57.19 to the greenback.
Trade volume slipped to USD1.57 billion from the previous day’s USD1.58 billion. (PNA)
