Concerns on the impact of the Omicron variant of coronavirus disease 2019 (Covid-19) continue to hit the local bourse but the peso kept its footing against the US dollar on Tuesday.
The Philippine Stock Exchange index (PSEi) shed 0.97 percent, or 70.55 points, to 7,167.06 points.
All Shares declined by 0.59 percent, or 22.71 points, to 3,805.67 points.
Financials posted the highest drop among the sectoral gauges at 1.55 percent.
It was trailed by the Services, 0.87 percent; Property, 0.84 percent; Industrial, 0.73 percent; Holding Firms, 0.68 percent; and Mining and Oil, 0.05 percent.
Volume totaled 955.83 million shares amounting to PHP6.86 billion.
Decliners surpassed advancers at 106 to 75, while 56 shares were unchanged.
“Philippine shares continued to trade in the red as the Omicron-driven resurgence in Covid-19 cases pushed investors on edge,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.
Citing reports, Limlingan said Omicron is now present in 43 states in the US and around 90 countries.
Meanwhile, the peso ended the day at 49.95, little changed from its 49.93 close a day ago.
It opened the trade at 49.88 and ranged between 49.965 and 49.875.
The average level for the day stood at 49.914.
Volume totaled USD916 million, higher than the previous session’s USD887.35 million.
Source: Philippines News Agency
