Peso, local stocks plummet anew

By Filane Mikee Cervantes

June 18, 2018, 6:12 pm

MANILA – The Philippine peso extended its decline for the sixth consecutive trading day, while the local bourse continued its losing streak as it fell back to the 7,400-zone on Monday.

The local unit dropped to 53.48, losing 21 centavos from its previous finish of 53.27. This was the lowest level of peso in almost 12 years since closing at 53.55 on June 29, 2006.

It opened the day at 53.46 and registered an intra-day low of 53.50.

On the other hand, the benchmark Philippine Stock Exchange index (PSEi) plunged 115.43 points, or 1.53 percent, to settle at 7,414.11 points, while the broader All Shares lost 62.14 points, or 1.35 percent, to finish at 4,531.04 points.

All counters ended in the red led by Mining and Oil which dropped by 2.83 percent; followed by Financials, 2.16 percent; Holding Firms, 1.80 percent; Services, 1.57 percent; Industrial, 1.54 percent; and Property, 0.23 percent.

Total volume reached 1.612 billion shares valued at PHP7.748 billion.

Decliners outpaced gainers 161 to 44, while 40 shares were left unchanged. (PNA)