Manila: Local shares were sold on profit on Thursday while peso ended the day weaker. After gaining for two straight days, the Philippine Stock Exchange index (PSEi) declined by 1.17 percent to 6,389.49, with All Shares also decreasing by 0.74 percent to 3,740.35.
According to Philippines News Agency, Philippine investors sold on profit as the first quarter of 2025 gross domestic product came out at 5.4 percent, while other investors digested the implications of the latest Federal Open Market Committee (FOMC) meeting. All counters closed in the red territory, with the biggest losses from Holding Firms, which were down by 2.02 percent, followed by Mining and Oil, which decreased by 1.98 percent to 9,528.96. Property fell by 1.64 percent to 2,255.17, Financials by 0.82 percent to 2,465.78, Industrial by 0.65 percent to 9,053.09, and Services by 0.08 percent to 2,070.80.
Decliners outnumbered advancers at 113 to 75, leaving 54 counters unchanged. Meanwhile, the Philippine peso closed weaker at 55.63 to the US dollar from a 55.40-finish on Wednesday. It opened the day at 55.50 to the dollar before trading between a low of 55.46 and a high of 55.68 to the dollar. The average level for the day stood at 55.57 to the greenback. The volume of trade dropped to USD1.7 billion from USD2 billion in the previous day.