Peso Stays Firm, PSEi Down On Profit-Taking

The Philippine peso continued to remain firm against the US dollar Monday but the Philippine Stock Exchange index (PSEi) slipped anew due to profit-taking.

The local currency finished the day at 51.205 from 51.245 Friday last week.

For the day, the peso opened the day flat at 51.30.

It traded between 51.34 and 51.13 resulting to an average of 51.23.

Some USD464.7 million changed hands, lower than the USD732.9 million a day ago.

On the other hand, the local equities indices ended the day mostly on the red, led by the main guage, which fell 1.23 percent, or 103.46 points, to 8,330.02 points.

The broader All Shares contracted by 0.76 percent, or 37.24 points to 4,894.62 points.

Five of the six sectors tracked the main index with Property registering the highest drop at 1.89 percent followed by the Holding Firms, 1.34 percent; Services, 1.20 percent; Mining and Oil, 1.18 percent; and Financails, 1.07 percent.

Volume for the day reached 1.57 billion shares amounting to Php8.22 billion.

Losers led gainers at 115 to 72 while 49 shares were unchanged. (PNA)

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