MANILA -- The Philippine peso lost ground against the US dollar on Wednesday while the local stocks barometer also stumbled back to the 7,700 level during midweek trading.
The local currency finished the day at PHP51.86, 12 centavos weaker than Monday's PHP51.74.
Meanwhile, the Philippine Stock Exchange index (PSEi) declined 1.06 percent, or 83.18 points, to close at 7,736.07 points. The broader All Shares was down by 0.51 percent, or 24.08 points, to 4,699.08 points.
The losing sectors were led by Holding Firms, which dropped by 1.62 percent, and was followed by the Services, 1.006 percent; Mining and Oil, 0.81 percent; Financials, 0.48 percent; and Property, 0.25 percent. Only the Industrial sector maintained a positive trajectory of 0.10 percent.
Volume reached 1.286 billion shares amounting to PHP6.527 billion. Advancers led decliners at 117 to 87, while 43 shares were unchanged. (PNA)
