MANILA - The local bourse got a beating yesterday as investors stayed on the sidelines but the Philippine peso proved its resiliency and ended sideways against the US dollar.
The Philippine Stock Exchange index (PSEi) declined by 1.002 percent, or 79.17 points, to 7,818.89 points.
All Shares slipped by 0.99 percent, or 46.64 points, to 4,670.76 points.
The peso ended the day’s trade at 50.865 from 50.87 a day ago, which a trader attributed to the investors’ wait-and-see stance on developments on the US-China trade discussions.
For the day, the peso opened sideways at 50.95 to the dollar from 50.97 Wednesday.
It improved to 50.85 but was pulled to 51.03, resulting in an average of 50.957.
Volume totaled to USD1.44 billion, higher than the USD 947.5 million a day ago.
The trader forecasts the peso to trade between 50.90 and 51.00 to the greenback today.*PNA
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