MANILA — The lack of positive developments on the US-China trade issue resulted in the flat close of the Philippine Stock Exchange index (PSEi) and the depreciation of the peso as the trading week closed.
The Philippine Stock Exchange index (PSEi) ended the week at 7,524.37 points, up 0.02 percent or 1.45 points.
Regina Capital Managing Director Luis Limlingan said the main gauge was on a roller coaster ride this week and mirrored US stocks “while investors continued to digest new developments in the ongoing US-China trade war and Wall Street’s volatile week.”
He said investors also focused on the European Central Bank (ECB), which kept rates steady and on Brexit issues.
With risk-off sentiment up, most of the counters ended on the red, with the All Shares down by 0.02 percent, or 0.83 points, to 4,506.50 points.
Most of the sectors ended with losses, led by the Mining and Oil at 0.99 percent. It was followed by the Holding Firms and Property, which both fell 0.20 percent; and Financials, 0.14 percent.
On the other hand, Services rose by 1.33 percent and Industrial, 0.79 percent.
Volume reached 1.27 billion shares amounting to PHP6.85 billion.
Gainers led losers at 100 to 79 while 42 shares were unchanged.
On the other hand, the peso finished the week down to 52.88 from 52.62 Thursday.
It opened the trade at 52.66 from 52.60 a day ago.
It traded between 52.90 and 52.66, resulting in an average of 52.76.
Volume reached USD677.75 million, lower than the USD697.65 million a day ago.