Business and Economy
Peso, stocks up on Tuesday
Both the local currency and stocks closed higher on Tuesday. (Photo: Cheng Ilagan/Philippine Canadian Inquirer)
MANILA—Both the local currency and stocks closed higher on Tuesday.
The Philippine peso inched up to 49.68 against a U.S. dollar from Monday’s finish of 49.69.
It opened the day stronger at 49.60 from last day’s kick off level at 49.74 to a dollar.
It traded better to a range of 49.59 to 49.71, bringing the average level at 49.65.
A total of USD532 million changed hands Tuesday, slightly lower from Monday’s USD558 million.
The local bourse, on the other hand, gained on Tuesday after losing for two trading days.
The Philippine Stock Exchange index (PSEi) went up by 0.23 percent, or 18.14 points, ending the day at 7,791.07.
Likewise, All Shares increased by 0.22 percent, or 9.98 points, to 4,652.15 points.
All counters were down on Tuesday except for Property, which gained by 2.48 percent,, or 86.06 points, to 3,561.89 points.
In terms of points, biggest loser was Industrial sector, whose index fell 29.17 points to 10,963.23; followed by Services, down by 18.30 points to 1,605.33; Mining and Oil, down by 13.96 points to 12,553.20; Holding Firms, down by 10.36 points to 7,920.49; and Financials, down by 3.80 points to 1,920.41.
Traded shares reached 1.46 billion amounting to Php 8.29 billion.
Decliners outnumbered gainers at 106 to 92, while 49 were unchanged.
