PSEi down on last-minute profit-taking, peso weakens

MANILA: The local stock market ended the day lower due to last-minute profit-taking, while the peso weakened on Thursday.

The Philippine Stock Exchange index (PSEi) declined by 13.89 points to 7,388.92.

All Shares however rose by 11.80 points to 3,982.66.

“The local market closed lower this Thursday by 0.19 percent to 7,388.92. The bourse was in the positive territory for the most part of the day but was dragged by last-minute profit taking,” Philstock Financials, Inc. research manager Japhet Tantiangco said.

Sectors were mixed with the miners leading the gainers, adding 2.57 percent.

The services were at the bottom, cutting 0.34 percent.

Advancers edged decliners 124 to 83.

Meanwhile, the peso depreciated, closing at 56.37 to the US dollar from its 56.178 finish on Wednesday.

It opened at 56.30 and traded between 56.17 and 56.40, bringing the day”s average to 56.265.

Volume of trade went down to USD1.7 billion from USD1.9 billion the previous day.

Source: Philippines News Agency