The Philippine Stock Exchange index (PSEi) finished Thursday in the negative territory on inflation concerns in the US but the peso strengthened against the US dollar.
The main stocks index declined by 0.69 percent, or 50.48 points, to 7,299.34 points.
All Shares followed with a 0.61 percent, or 24.3-point decline, to 3,933.70 points.
Most of the sectoral gauges tracked the main index with the Financials declining by 1.30 percent; Mining and Oil, 1.26 percent; Holding Firms and Services, both at 0.86 percent; and Industrial, 0.36 percent.
Only the Property index rose during the day after it jumped by 0.30 percent.
Volume was thin after it totaled 882.46 million shares amounting to PHP7.82 billion.
Decliners led advancers at 141 to 55, while 45 shares were unchanged.
“Philippine shares fell along with the rest of the region as investors weighed a continuation of strong earnings reports from big-box retailers against lingering inflation and economic data concerns,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.
Meanwhile, the peso improved against the US dollar after ending the trade at 50.23 from its 50.39 finish a day ago.
It opened the trade at 50.33 and traded between 50.375 and 50.23.
The average level for the day stood at 50.303.
Volume inched up to USD1.27 billion compared to the previous session’s USD1.13 billion.
Source: Philippines News Agency
