PHP stays firm vs USD, PSEi down
MANILA (Philippines News Agency) — The Philippine peso ended the week little changed against the greenback but the main stock index fell ahead of the release of US jobs report later in the session.
The local currency ended the trade at 50.36 from 50.39 a day ago, which a trader said was affected by profit-taking mod.
It started the day at 50.39 sideways from the 50.36 Thursday.
It traded between its opening level and 50.33, bringing the day’s average at 50.34.
Volume of trade reached USD304.55 million, lower than the USD345.1 million Thursday, which the trader said was due to uncertainties.
The currency pair is seen to trade between 50.10 and 50.40 next week.
On the other hand, the Philippine Stock Exchange index (PSEi) lost 2.05 percent, or 149.18 points, to 7,146.27 points, which another trader pointed to wait and see stance ahead of the US non-farm payrolls report for February 2017.
All Shares ended the week at 4,343.39 points, down 1.35 percent or 59.42 points.
All the sectors also ended the week on the red, led by the Holding Firms with 2.82 percent decline.
Financials lost 1.82 percent followed by Services, 1.44 percent; Industrial, 1.08 percent; Property, 0.56 percent; and Mining and Oil, 0.16 percent.
Total volume for the day reached 3.7 billion shares amounting to Php 8 billion.
Losers led gainers at 102 to 72 while 47 stocks were unchanged. (PNA)