{"id":269445,"date":"2020-09-22T03:51:46","date_gmt":"2020-09-22T07:51:46","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=269445"},"modified":"2020-09-22T03:51:46","modified_gmt":"2020-09-22T07:51:46","slug":"peso-stocks-index-end-sideways","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/09\/22\/peso-stocks-index-end-sideways\/","title":{"rendered":"Peso, stocks index end sideways"},"content":{"rendered":"
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The peso closed the day at 48.365 to a greenback, little changed from its 48.395 close last Friday. (PNA Photo)<\/figcaption><\/figure>\n
MANILA<\/strong>\u00a0\u2013 The peso started the week sideways against the US dollar while the Philippine Stock Exchange index (PSEi) barely moved partly due to the US-China tension and the resurging coronavirus disease 2019 (Covid-19) cases in Europe.<\/div>\n
<\/div>\n
The peso closed the day at 48.365 to a greenback, little changed from its 48.395 close last Friday.<\/div>\n
<\/div>\n
It opened the day at 48.38, also sideways from its 48.46 start in the previous session.<\/div>\n
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It traded between 48.39 and 48.35, resulting in an average of 48.367.<\/div>\n
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Volume totaled to USD662.83 million, lower than the USD832.54 million at the end of last week.<\/div>\n
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ING Bank Manila senior economist Nicholas Mapa said the local currency remains among the best performing currency in the region, with the peso closing to its near four-year high against the US dollar.<\/div>\n
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He, however, said \u201cthe relative strength (of the peso) may actually reflect a fast-fading investment boom with the economic outlook turning even darker on the horizon.\u201d<\/div>\n
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Mapa said imports have weakened because of the pandemic and this translated partly to weaker demand for the US dollar which, in turn, boosted the peso.<\/div>\n
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\u201cA modest pick-up in FDI (foreign direct investment), coupled with a surge in foreign borrowings, have also helped support PHP but as the peso continues to strengthen, we lament lost potential output with the investment boom now gone,\u201d he said.<\/div>\n
<\/div>\n
Meanwhile, the main equities index ended the week\u2019s first trading day up by 0.007 percent, or 0.42 points, to 5,909.32 points.<\/div>\n
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Most of the other counters, however, ended the day on the red, with the All Shares down by 0.14 percent, or 4.81 points, to 3,548.77 points.<\/div>\n
<\/div>\n
Mining and Oil posted the highest drop among the sectors with 0.76 percent, and was trailed by the Services which declined by 0.66 percent; Industrial, 0.32 percent; Financials, 0.29 percent; and Holding Firms, 0.02 percent.<\/div>\n
<\/div>\n
Only the Property index followed the main gauge with a rise of 0.69 percent.<\/div>\n
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Volume totaled to 2.13 billion shares amounting to PHP4.27 billion.<\/div>\n
<\/div>\n
Losers led gainers at 138 to 58, while 42 shares were unchanged.<\/div>\n
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\u201cThe PSEi closed almost without change amid uncertainty about a fresh round of fiscal stimulus from Washington and the latest update from the Sino-US tension,\u201d Luis Limlingan, Regina Capital Development Corporation head of sales, said.<\/div>\n
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This after a federal judge issued a preliminary injunction a day before the US government\u2019s decision to ban WeChat takes effect.<\/div>\n
<\/div>\n
The ban by the US government was made after it said that the mobile app owned by Chinese multinational company Tencent, is a security threat.<\/div>\n
<\/div>\n
Meanwhile, fears for a second wave of coronavirus disease 2019 (Covid-19) in Europe have risen due to a spike of cases in the UK, Italy and Belgium, among others.<\/div>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 The peso started the week sideways against the US dollar while the Philippine Stock Exchange index (PSEi) barely moved …<\/p>\n","protected":false},"author":33,"featured_media":269454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-269445","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\/269445","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=269445"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/269445\/revisions"}],"predecessor-version":[{"id":269455,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/269445\/revisions\/269455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/269454"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=269445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=269445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=269445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}