PSEi up, peso weakens Monday

“President (Donald) Trump signed executive orders that impose tariffs on imports from Mexico, Canada, and China effective Feb. 4,” he added. (Pexels Photo)

By Anna Leah Gonzales, Philippine News Agency

MANILA – Philippine shares slightly rose on Monday, while the peso closed weaker against the dollar.

The Philippine Stock Exchange index (PSEi) went up by 0.

35 percent to 5,883.04 while All Shares also rose by 0.41 percent to 3,534.61.

“Philippine shares got off to a lukewarm start despite the sell off last Friday as investor sentiment soured after the announcement that new tariffs on major trading partners would be implemented, raising concerns about trade tensions and economic uncertainty,” said Regina Capital Development Corp. head of sales Luis Limlingan.

“President (Donald) Trump signed executive orders that impose tariffs on imports from Mexico, Canada, and China effective Feb. 4,” he added.

Except for Services which declined by 0.95 percent, all sectors closed in the green with Property recording the biggest increase at 1.

79 percent.

Decliners led advancers at 131 to 81.

The peso meanwhile, weakened, closing at 58.66 to a dollar on Monday from Friday’s 58.37 finish.

It opened at 58.44 before trading between a low of 58.72 and a high of 58.44.

The average for the day stood at 58.67.

Volume of trade fell to USD1.27 billion from USD1.50 billion.