Peso ends slide vs USD; PSEi reverts after hitting new highs

By , on October 11, 2017

The newest product of The Philippine Stock Exchange, Inc. (PSE), the dollar-denominated securities (DDS), is set to have its first product offering.  (Photo: The Philippine Stock Exchange, Inc./Facebook)
The Philippine Stock Exchange, Inc. (PSEi) (Photo: The Philippine Stock Exchange, Inc./Facebook)

MANILA – – The Philippine peso took a breather Wednesday from series of slides during the past days while the Philippine Stock Exchange index (PSEi) finished on the red after hitting another record-high Tuesday.

The local curency finished the day at 51.35 from 51.44 a day ago, which a trader pointed to renewed US-North Korea concerns.

It opened the day weaker at 51.48 from 51.20 in the previous session.

It strengthened to as much as 51.34 but was also pulled to 51.56, bringing the day’s average to 51.467.

Volume for the day reached USD801.8 million, lower than day-ago’s USD929.3 million.

On the other hand, the main equities index shed 0.47 percent, or 39.57  points, to 8,358.47 points ending a three-day run-up to new record-high level of 8,398.04 points.

The broader All Shares also contracted and ended the day at 4,907.88 points, down 0.30 percent or 14.83 points.

Only the Financials finished the day on a positive note after gaining 0.53 percent.
Industrial led the sectors in terms of losses after it declined 1.17 percent; followed by Services, 0.91 percent; Mining and Oil, 0.82 percent; Holding Firms, 0.45 percent; and Property, 0.32 percent.

Volume reached 894.07 million shares amounting to PHP11.63 billion.
Losers led gainers at 97 to 90 while 56 stocks were unchanged.