Peso ends slide vs $; PSEi ends 3-day rally


THE Philippine peso took a breather Wednesday from series of slides during the past days while the Philippine Stock Exchange index (PSEi) finished on the red after hitting another record-high Tuesday.

The local currency finished the day at 51.35 from 51.44 a day ago, which a trader pointed to renewed US-North Korea concerns.

It opened the day weaker at 51.48 from 51.20 in the previous session.

It strengthened to as much as 51.34 but was also pulled to 51.56, bringing the day’s average to 51.467.

Volume for the day reached $801.8 million, lower than day-ago’s $929.3 million.

On the other hand, the main equities index shed 0.47 percent, or 39.57 points, to 8,358.47 points ending a three-day run-up to new record-high level of 8,398.04 points.

The broader All Shares also contracted and ended the day at 4,907.88 points, down 0.30 percent or 14.83 points.

Only the Financials finished the day on a positive note after gaining 0.53 percent.
Industrial led the sectors in terms of losses after it declined 1.17 percent; followed by Services, 0.91 percent; Mining and Oil, 0.82 percent; Holding Firms, 0.45 percent; and Property, 0.32 percent.

Volume reached 894.07 million shares amounting to P11.63 billion.
Losers led gainers at 97 to 90 while 56 stocks were unchanged. Joann Villanueva/PNA