MANILA -- The Philippine Peso was little changed against the Greenback Tuesday but the Philippine Stock Exchange index (PSEi) contracted anew.
The local currency finished the day at 52.05 from 52.07 a day ago and a trader attributed this still on geo-political concerns over Syria. The possiblity of retaliatory measures by Russia, China or Iran is what's fueling investors' jitters, the trader said.
It opened the day weaker at 52.05 against its 51.92 start Monday.
Its opening and closing level is the unit’s strongest for the day after it dipped to 52.11 mid-trade, bringing the day’s average to 52.072.
Volume declined to USD427.3 million from USD518.1 million in the previous session.
The Peso is seen to trade between 52.00 and 52.30 to a US dollar Wednesday.
On the other hand, the main equities index fell 1.87 percent, or 146.86 points, to 7,723.39 points on continued foreign selling as a result of the Syria concerns, another trader said.
All the other counters tracked the main gauge, with the All Shares down by 1.58 percent, or 75.32 points, to 4,695.96 points.
The sectors were led by the Financials, which dropped 2.27 percent, and was followed by the Mining and Oil, 2.09 percent; Holding Firms, 1.79 percent; Services, 1.76 percent; Industrial, 1.39 percent; and Property, 1.32 percent.
Volume for the day reached 1.23 billion shares amounting to Php7 billion.
Decliners led advancers at 161 to 57 while 34 shares were unchanged. (PNA)
