Peso gains ground, local shares slip

By Joann Villanueva/Philippine News Agency

MANILA — The Philippine peso improved against the US dollar Tuesday, ending stronger at the 51-level, but the Philippine Stock Exchange index (PSEi) closed in the red territory.

The local currency finished the trade at 51.85 from 52.1 close a day ago, which BPI Research attributed to the Philippine Statistics Authority’s (PSA) trade report for April 2019, which saw a 0.4 percent year-on-year rise in exports and a -1.9 percent drop in imports.

PSA said the rise in exports in the fourth month this year is a turn-around from the -1.9 percent result in the same period last year.

The outturn of imports is also a turn-around compared to the 28.6 percent rise in April 2018.

The peso opened the day flat at 52.05, and trade between 52.05 and 51.84. This resulted to an average of 51.969.

Volume reached USD867.45 million, down from the USD1.1 billion a day ago.

The currency pair is seen to trade between 51.70 and 52.10 on Thursday. There will be no trade on Wednesday due to the Independence Day holiday.

On the other hand, the main equities gauge declined by 0.18 percent, or 14.41 points, to 8,030.98 points.

All Shares followed after it fell 0.09 percent, or 4.63 points, to 4,907.68 points.

Most of the sectors also registered declines, led by Mining and Oil with 0.83 percent. It was followed by Holding Firms, 0.72 percent; Property, 0.27 percent; and Financials, 0.26 percent.

On the other hand, Industrial rose by 0.94 percent and Services by 0.72 percent.

Volume totaled to 650.77 million shares amounting to PHP7.8 billion.

Gainers led losers at 107 to 95 while 40 shares were unchanged.

For the latest updates about this story, visit the Philippine News Agency website

Popular

PCG command post in Kalayaan Island now activated

By Brian Campued To commemorate the 84th Day of Valor on Thursday, the Philippine Coast Guard (PCG) officially activated its Coast Guard District Kalayaan Island...

PBBM hails pause in Middle East conflict; bolsters collab with private sector amid energy emergency

By Dean Aubrey Caratiquet On the heels of a reported two-week ceasefire between the United States and Iran, the Philippines welcomed the development as an...

PSA hails significant gains in PH domestic labor market

By Dean Aubrey Caratiquet After unveiling figures on the country’s inflation rate for March 2026, the Philippine Statistics Authority (PSA) shared the numbers outlining the...

PCO to fake news peddlers: We will not let you get away

By Brian Campued “We will not let you get away with a crime. We will go after you and hold you to account.” This was the...