{"id":176639,"date":"2018-08-14T03:58:58","date_gmt":"2018-08-14T07:58:58","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=176639"},"modified":"2018-08-14T03:58:58","modified_gmt":"2018-08-14T07:58:58","slug":"peso-psei-dragged-turkeys-financial-woes","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/08\/14\/peso-psei-dragged-turkeys-financial-woes\/","title":{"rendered":"Peso, PSEi dragged down by Turkey’s financial woes"},"content":{"rendered":"
\"\"<\/a>
The peso ended the week\u2019s first trading day at 53.37 from 53.09 Friday last week. (Shutterstock photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— The Philippine peso and the Philippine Stock Exchange index (PSEi) shed Monday as investors troop to safer grounds on jitters generated by the financial crisis in Turkey.<\/p>\n

The peso ended the week\u2019s first trading day at 53.37 from 53.09 Friday last week.<\/p>\n

A trader said the US dollar strengthened as a result of concerns on Turkey, thus, the general weakness of currencies in Asia.<\/p>\n

Corporates\u2019 mid-month dollar demand added to the peso\u2019s weakness during the day, the trader said.<\/p>\n

For the day, the local unit opened at 53.18, sideways from the 53.13 in the previous session.<\/p>\n

It traded between its opening level and 53.375, bringing the day\u2019s average at 53.307.<\/p>\n

Volume for the day reached USD786.4 million, higher than the USD664.3 million a day ago.<\/p>\n

The currency pair is seen to trade between 53.10 and 53.30 Tuesday.<\/p>\n

Also, the main equities index shed 2.17 percent, or 169.71 points to 7,635.27 points, which another trader pointed to the Turkey-factor.<\/p>\n

All the other counters mirrored the main gauge, with the broader All Share down by 1.74 percent, or 82.16 points, to 4,632.53 points.<\/p>\n

The sectors were led by the Property, which fell 2.89 percent, and was followed by the Holding Firms, 2.82 percent; Industrial, 1.21 percent; Financials, 1.19 percent; Services, 0.91 percent; and Mining and Oil, 0.81 percent.<\/p>\n

Volume reached 1.44 billion shares amounting to Php5.2 billion.<\/p>\n

Losers led gainers at 140 to 58 while 39 stocks were unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"

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