MANILA — The Philippine Stock Exchange Index (PSEi) declined by 0.18 percent to close at 7,411.47 on Thursday (10 Oct 2024), reflecting ongoing profit-taking amid a weaker peso. Conversely, the All Shares index edged up by 0.10 percent to 4,037.52.
Gainers included the Property sector (+0.55 percent), Holding Firms (+0.28 percent), and Financials (+0.19 percent), while the Services (-1.55 percent), Mining and Oil (-0.99 percent), and Industrial (-0.29 percent) sectors faced losses.
Philstocks Financial’s research manager, Japhet Tantiangco, noted, “Investors continued to take profits as the peso depreciated, now falling below the 57.00 mark.” Trading activity remained subdued, with a net value turnover of PHP4.05 billion, below the year-to-date average of PHP5.21 billion. Foreign investors were net sellers for the second consecutive day, with outflows totaling PHP73.58 million.
The Philippine peso closed at 57.37 against the US dollar, down from 57.02 on Wednesday. It opened the day at 57.15, fluctuating between a low of 57.11 and a high of 57.36, with an average exchange rate of 57.19. Trade volume slightly decreased to USD1.57 billion from USD1.58 billion the previous day.
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