MANILA: The Philippine Stock Exchange index (PSEi) declined Tuesday on profit-taking, while the local currency improved its performance.
The PSEi closed the day lower by 0.33 percent at 6,667.09, with All Shares also shedding by 0.23 percent down to 3,585.93.
‘Local shares succumbed to profit taking following a successive run-up of the index as investors bet that the unsuccessful assassination attempt boosted Donald Trump’s chances of reclaiming the White House,’ Regina Capital Development Corp. head of sales Luis Limlingan said.
Among sectoral indices, only Property boosted its shares to 2,697.04, higher by 1.73 percent than its Monday close.
Those in the red territory were led by Financials, with shares plunging by 1.33 percent to 2,000.53; followed by Services, down by 0.85 percent to 2,029.27; Mining and Oil, down by 0.57 percent to 8,597.27; Holding Firms, down by 0.34 percent to 5,765.91; and Industrial, down by 0.27 percent to 9,131.75.
Losers outpaced winners at 98 to 79, leaving 55 counters unch
anged.
Meanwhile, the Philippine peso closed the day gaining by 0.09 at 58.39 to a US dollar from last day’s finish at 58.48 to a dollar.
It kicked off the day at 58.46 before trading between 58.39 and 58.52.
The average level for the day stood at 58.47 to the greenback.
Volume of trade further increased on Tuesday to USD1.42 billion from the previous day’s volume of USD1.1 billion.
Source: Philippines News Agency
