PSEi recovers; peso almost unchanged vs. USD

By Joann Villanueva

March 7, 2018, 7:49 pm

MANILA -- The Philippine Stock Exchange index (PSEi) on Wednesday recovered from a five-day slide while the peso finished the day sideways against the greenback.

The main stocks exchange gained 0.53 percent, or 44.47 points, to 8,404.69 points, which a trader traced to bargain hunting after the index’ latest decline.

Most of the other indices tracked the main index, with the broader All Shares up by 0.44 percent, or 22.15 points, to 5,055.87 points.

Financials led the sectors with an increase of 1.29 percent; followed by the Industrial, 0.62 percent; Holding Firms, 0.52 percent; and Property, 0.14 percent.

Mining and Oil and Services, in turn, shed by 1.74 percent and 0.30 percent, respectively.

Volume reached 2.42 billion shares amounting to PHP8.6 billion.

Losers led gainers at 113 to 100 while 48 shares were unchanged.

The peso closed the day at 51.98 against the greenback, little changed compared to its 52.00 finish Tuesday.

It opened the day at 52.08, weaker than its 51.88 start in the previous session.

It improved to as much as 51.96 but also slipped to 52.12 resulting in an average of 52.02.

Volume for the day reached USD692.25 million, down from the USD808 million a day ago.

The currency pair is seen to trade between 51.90 and 52.10 Thursday. (PNA)