Peso Continues Slide but Local Bourse Breaks Losing Streak

The Philippine stock market closed Tuesday on a positive note to end the eight-day losing streak but the Philippine peso continued to slide against the US dollar.

The local currency finished the day’s trade 3 centavos lower at 53.47 from the previous session’s 53.44.

It opened the day at 53.43 and traded between 53.35 and 53.50.

The main-share Philippine Stock Exchange index (PSEi) rose slightly by 0.29 percent, or 20.33 points, to close at 7,007.21 points.

The broader All Shares, however, lost 2.10 points, or 0.05 percent, to 4,309.31 points.

Half of the sub-indices were mostly positive, led by Holding Firms, up by 0.75 percent; Property, up 0.50 percent; and Industrial up 0.34 percent.

Losers were led by Mining and Oil, which sank 1.96 percent; Financials, 1.07 percent; and Services, 0.41 percent.

Total volume reached 707.55 million shares valued at PHP5.9 billion.

Decliners outpaced advancers at 127 to 78, while 41 shares were unchanged. (PNA)