Peso still strong; PSEi down anew

MANILA – – The Philippine peso remained strong Wednesday but the Philippine Stock Exchange index (PSEi) succumbed to foreign selling as the December meeting of the Federal Reserve nears.

The local currency finished the day 14 centavos better at 51.04 from 51.18 Tuesday.

It opened the day flat at 51.20 and traded between 51.02 and 51.23, resulting an average of 51.11.

Volume for the day reached USD566.8 million, up from the USD476.78 million.

PSEi, on the other hand, shed 1.27 percent, or 106.20 points, to 8,273.44 points, which a trader partly traced to foreign selling.

All the other indices followed, led by the broader All Shares, which ended the day at 4,864.15 points, down 1.01 percent or 49.76 points.

Biggest loser among the sectors during the day is the Mining and Oil after it declined by 2.12 percent followed by the Holding Firms, 1.49 percent; and Property, 1.26 percent.

Financials went down by 0.95 percent; Industrial, 0.82 percent; and Services, 0.38 percent.

Volume for the day reached 1.42 billion amounting to Php5.9 billion.

Losers led gainers anew at 109 to 76 while 53 shares were unchanged. (Joann Villanueva/PNA)

Popular

Taal Lake site assessment yields sack containing ‘bones’ — DOJ

By Brian Campued The Department of Justice (DOJ) confirmed that authorities retrieved a sack containing burned remains believed to be human bones during the initial...

LTO integrates online driver’s license renewal system in eGovPH app

By Dean Aubrey Caratiquet The Land Transportation Office (LTO) has integrated the online driver’s license renewal in the eGovPH app, which ensures a fast and...

5 of 21 Filipinos in Houthi-hit ship in Red Sea rescued — DFA

By Joyce Ann L. Rocamora and Marita Moaje | Philippine News Agency Five of the 21 Filipino seafarers manning the cargo vessel Eternity C, which...

PBBM directs gov’t officials: Focus on work, avoid politicking

By Dean Aubrey Caratiquet At the Malacañang press briefing this Wednesday, July 9, Presidential Communications Office (PCO) Undersecretary and Palace Press officer Claire Castro reiterated...