PSEI DOWN. The local stock market dropped anew on Thursday (Oct. 5, 2023) after the release of the September 2023 headline inflation data. The peso, on the other hand, moved sideways, closing at 56.67 to the greenback. (PNA graphics)
MANILA – The stock market ended the day in negative territory after the release of the September headline inflation data, while the peso moved sideways on Thursday.
The Philippine Stock Exchange (PSEi) lost 119.60 points to close at 6,178.60, while the broader All Shares also dropped 49.81 points to 3,348.75.
"Philippine shares fell towards closing as the latest inflation print came below expectations," Regina Capital Development Corp. head of sales Luis Limlingan said.
Headline inflation accelerated to 6.1 percent last month from 5.3 percent in August.
All sectors dropped, led by Mining and Oil, which shed 184.98 points.
Volume reached 676.7 million shares with a total value of PHP5.4 billion.
Decliners led advancers at 119 to 67, while 45 shares were unchanged.
The peso, meanwhile, closed at 56.67 to the dollar, slightly higher than the 56.71 finish on Wednesday.
It opened the day at 56.6 from the previous day's kick-off at 56.82.
The currency pair traded between 56.59 and 56.69, bringing the day's average to 56.63.
The total volume of trade amounted to USD1.23 billion, lower than the previous day's USD1.52 billion. (PNA)
