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Bacolod City, Philippines Tuesday, February 5, 2019
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PSEi, peso down ahead of holidays


MANILA - Both the Philippine Stock Exchange index (PSEi) and the peso ended weaker yesterday as Chinese markets took the rest of the week off for the Lunar New Year celebrations.

PSEi lost 0.92 percent, or 74.68 points, to 8,069.48 points.

Most of the other counters tracked the main gauge, with the All Shares down by 0.35 percent, or 16.97 points, to 4,892.54 points.

Holding Firms registered the highest drop among the sectors with the decline of 0.93 percent and was followed by Financials, 0.80 percent; Industrial, 0.75 percent; and Property, 0.59 percent.

Mining and Oil rose 0.83 percent and Services, 0.14 percent.

Volume reached 3.27 billion shares, amounting to P7.3 billion.

Gainers led losers at 124 to 83, while 47 shares were unchanged.

The local currency ended the day at 52.41 from 52.23-finish at the end of last week.

A trader said the peso mirrored the PSEi as investors decided to stay on the sidelines due to the Chinese New Year holiday.

The local unit opened the day at 52.32, weaker than its 52.13 start in the previous trading.

It strengthened to 52.28 but also slipped to 52.45, resulting in an average of 52.358.

Volume reached USD842.9 million, lower than the USD881.3 million on Friday.

The currency pair is seen to trade between 52.20 and 52.40 Wednesday.*PNA


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