{"id":179916,"date":"2018-09-03T23:40:13","date_gmt":"2018-09-04T03:40:13","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=179916"},"modified":"2018-09-03T23:40:13","modified_gmt":"2018-09-04T03:40:13","slug":"profit-taking-spree-downs-peso-local-shares","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/09\/03\/profit-taking-spree-downs-peso-local-shares\/","title":{"rendered":"Profit-taking spree downs Peso, local shares"},"content":{"rendered":"
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The local currency ended the day at 53.46 from 53.475 finish Friday last week. (Shutterstock photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Lack of direction from bigger markets due in part to the Labor Day holiday in the US, resulted in the almost flat close for the Peso while profit-taking resulted in the retreat of the Philippine Stock Exchange index (PSEi).<\/p>\n

The local currency ended the day at 53.46 from 53.475 finish Friday last week.<\/p>\n

A trader said market players are on a wait-and-see stance ahead of the release of the Philippines\u2019 August 2018 inflation report as well as manufacturing report within the week.<\/p>\n

The peso opened the day at 53.53, little changed from the 53.48 at the end of last week.<\/p>\n

It strengthened to 53.46 and moved to 53.535, resulting to an average of 53.504.<\/p>\n

Volume for the day totalled to USD485.8 million, higher than the USD383.85 million in the previous session.<\/p>\n

The currency pair is seen to trade between 53.30 and 53.50 Tuesday.<\/p>\n

PSEi, on the other hand, fell 0.30 percent, or 23.49 points, to 7,832.22 points.<\/p>\n

All Shares followed with a 0.003 percent, or 0.16 points, decline to 4,772.17 points.<\/p>\n

It was a balanced mix among the sectors, with Property, Financials and Industrial ending on the red after losing 0.89 percent, 0.45 percent, and 0.44 percent, respectively.<\/p>\n

On the other hand, Mining and Oil rose 0.65 percent and was followed by the Holding Firms, 0.02 percent; and Services, 0.006 percent.<\/p>\n

Volume was thin at 736.95 million shares amounting to Php5.6 billion.,<\/p>\n

Losers led gainers at 101 to 85 while 54 shares were unchanged.<\/p>\n

Landbank market economist Guian Angelo S. Dumalagan said lack of major data releases overseas prompted investors to stay at the sidelines.<\/p>\n

He said investors took profit after last Friday\u2019s window dressing, as they await for economic reports this week.<\/p>\n

Another trader pointed PSEI\u2019s slide to global risk-off sentiment.<\/p>\n

Its performance was in-line with the outcome in the region during the day, the trader said.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Lack of direction from bigger markets due in part to the Labor Day holiday in the US, resulted in …<\/p>\n","protected":false},"author":33,"featured_media":45359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-179916","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/179916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=179916"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/179916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/45359"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=179916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=179916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=179916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}