MANILA – The sustained shedding of the local shares for two days has brought down the Philippine Stock Exchange index (PSEi) to below the 6,000-mark while peso ended flat at the end of the week.
PSEi finished the day 0.94 percent lower to 5,961.99 level, with broader All Shares also declined by 0.60 points to 3,246.47.
“Philippine shares ended the week below 6,000 as investors digested a slew of corporate earnings released locally,” Regina Capital Development Corp. head of sales Luis Limlingan said.
The off-cycle interest hike of the Bangko Sentral ng Pilipinas still weighed on investors’ sentiment Friday.
All counters closed in the red territory, with the biggest drop coming from the Property sector, down by 1.72 percent.
Decliners outnumbered advancers at 93 to 78, with 53 left unchanged.
Meanwhile, peso ended flat at 56.96 to a US dollar.
It kicked off at 56.98 from last day’s opening at 56.95.
The currency pair traded between 56.85 and 56.98, bringing the average level for the day to 56.90 to the greenback.
Trade volume sustained its increase to USD1.65 billion on Friday from the previous day’s volume of USD1.08 billion. (PNA)
