Business and Economy
PSEi, peso slip anew on profit-taking
Services and Property, meanwhile, rose 0.38 percent and 0.19 percent, respectively. (Photo by Katrina.Tuliao (https://www.tradergroup.org) [CC BY 2.0)
PSEi shed 0.32 percent, or 28.25 points, to 8,820.74 points, which a trader attributed to investors’ anticipation ahead of the earnings report season.
The broader All Shares gave up 0.11 percent, or 5.60 points, to 5,115.87 points.
Most of the sectors followed the main index, namely the Mining and Oil, 0.90 percent; Financials, 0.72 percent; Holding Firms, 0.66 percent; and Industrial, 0.02 percent.
Services and Property, meanwhile, rose 0.38 percent and 0.19 percent, respectively.
Volume reached 1.14 billion shares amounting to PHP9.98 billion.
Gainers led losers at 113 to 103 while 54 shares were unchanged.
The peso ended the day at 50.80, weaker than its 50.70 a day ago, which a trader also pointed to corporate demand for the US dollar.
Its weak finish for the day was seen early on after it opened the trade at 50.73 against the 50.50 on Wednesday.
It traded between 50.84 and 50.68, resulting an average of 50.75.
Volume for the day reached USD749.4 million, lower than the USD930.65 a day ago.
The trader expects the peso to trade between 50.60 and 50.80 to the greenback Friday.
