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Bacolod City, Philippines Friday, September 11, 2020
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Peso ends sideways, PSEi slides

 

The peso ended yesterday’s trade sideways against the US dollar but the Philippine Stock Exchange index (PSEi) ended the trade in the red partly on concerns regarding the development of coronavirus disease (Covid-19) vaccines.

The peso finished the day at 48.57 against the US dollar, sideways from its 48.66 close a day ago.

It opened the trade at 48.6, little changed from its 48.63 start in the previous session.

It traded between 48.61 and 48.55, resulting to an average of 48.579.

Volume totaled to USD548.96 million, lower than the USD584.9 million a day ago.

On the other hand, the main stocks index shed 0.51 percent, or 30.45 points, to 5,902.39 points.

All Shares declined by 0.25 percent, or 9 points, to 3,553.56 points.

It was a balance among the sectoral gauges, with Holding Firms, Services, and Industrial down by 1.24 percent, 0.52 percent; and 0.004 percent, respectively.

On the other hand, Financials rose by 0.42 percent, Property by 0.28 percent, and Mining and Oil by 0.17 percent.

Volume totaled to 770.87 million shares amounting to P5.96 billion.

Gainers led losers at 101 to 85 while 53 shares were unchanged.

“Local shares continued to be sold down as concerns regarding the vaccine progress lingered,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.

Citing news reports, he said AstraZeneca may resume the clinical trial of its Covid-19 candidate vaccine next week after temporarily halting it because one of the trial participants experienced an unexplained illness.

Reports said the trial participant, a woman based in the UK, experienced neurological symptoms consistent with a spinal inflammatory disorder.*PNA

 

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