Peso stable at 48 a dollar
Local stocks ended Monday in the negative territory due to fiscal aid concerns in the US while the peso closed sideways against the greenback, according to a report by Philippine News Agency.
The Philippine Stock Exchange index (PSEi) lost 0.48 percent, or 35.02 points, to 7,203.44 points.
All Shares slipped by 0.49 percent, or 21.18 points, to 4,321.30 points.
Most of the sectoral indexes also contracted during the day, led by the Mining and Oil, which fell by 3.08 percent.
Financials index declined by 1.30 percent, Property by 0.90 percent, Holding Firms by 0.30 percent, and Services by 0.17 percent.
Only the Industrial index gained during the day after it rose by 0.23 percent.
Volume totaled 169.05 billion shares amounting to PHP10.38 billion.
Losers led gainers at 137 to 95, while 43 shares were unchanged.
“Philippine shares dropped as the market contemplated on an additional fiscal aid under (US President Joe) Biden’s administration, as well as earnings releases of some big US banks,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
Meanwhile, the peso ended the day sideways against the US dollar at 48.075 from 48.065 finish a day ago.
It opened the trade at 48.08, little changed from its 48.05 start in the previous day.
It traded between 48.08 and 48.055.
Average level for the day stood at 48.066.
Volume totaled to USD418.7 million, lower than the USD511.1 million last Friday.
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