STOCKS DOWN. Local shares ends the day on the red, closing at 6,462.80 on Wednesday (Dec. 27, 2023). The peso meanwhile depreciated, closing at 55.55 to a dollar. (PNA graphics)
MANILA – Local shares closed Wednesday's trading weak, while the peso depreciated.
The Philippine Stock Exchange index (PSEi) closed at 6,462.80, shedding 38.20 points on the first trading day of the week.
All Shares also went down by 11.41 points to 3,415.89.
"The local bourse dropped by 38.20 points (0.59 percent) to 6,462.80 as investors took some gains while awaiting fresh catalysts towards the year-end," said Philstock Financials, Inc. assistant research manager Claire Alviar.
"Despite the market’s drop, the mining and property sectors were able to post gains, increasing by 1.93 percent and 0.66 percent, respectively," Alviar added.
Other sectors, however, closed on the red with Holdings recording the biggest loss of 105.74 points (1.66 percent).
Net market value turnover was at PHP3.42 billion.
Decliners led advancers at 88 to 82, while 52 shares were unchanged.
The peso, meanwhile, closed at 55.55 against the dollar on Wednesday, down from the 55.4 finish on Dec. 22.
It opened the day at 55.45 and traded between 55.45 and 55.88.
The weighted average for the day stood at 55.65.
The volume of trade went up to USD1.53 billion from last week's USD1.08 billion. (PNA)
