By Kris Crismundo/PNA
MANILA — Local markets closed sideways during midweek trading, the peso managing an upward bias while the local bourse showed a more downward bias.
The peso ended the day at 52.34 to the dollar, little changed from Tuesday’s closing of 52.43.
The local currency opened Wednesday stronger at 52.43 from last day’s kick-off at 52.53 to the greenback.
The currency pair traded between a low of 52.31 to a high of 52.43, bringing the weighted average for the day at 52.35.
Volume of trade amounted to USD933.32 million, slightly lower from last day’s value of USD939.03 million.
Meanwhile, the Philippine Stock Exchange index (PSE) ended on the edge of red territory, with investors’ looming concern on the security in the southern part of the country.
PSEi closed 0.88 percent lower this day to 7979.95 points.
All shares declined also by 0.66 percent to 4,824.53 points.
Regina Capital Managing Director Luis Limlingan said the civil unrest in Mindanao, Brexit proceedings, and trade tensions between Beijing and Washington influenced the local stock market’s performance.
“At home, stability concerns were raised after a second explosion in southern Philippines left several dead or hurt,” said Limlingan.
All counters posed decrements on mid-week’s trading.
Losers outpaced gainers at 177 to 84, with 47 remaining stable.
