The Philippine Stock Exchange index (PSEi) experienced a continued decline for two consecutive days, closing at 5,961.99, a 0.94 percent decrease. The broader All Shares index also saw a 0.60-point drop, settling at 3,246.47.
Regina Capital Development Corp.’s Head of Sales, Luis Limlingan, explained, “Philippine shares ended the week below 6,000 as investors analyzed a multitude of local corporate earnings reports.”
Investor sentiment on Friday was influenced by the off-cycle interest rate hike by the Bangko Sentral ng Pilipinas, contributing to the overall decline. All sectors ended in negative territory, with the Property sector experiencing the most significant drop at 1.72 percent.
Declining stocks outnumbered advancing ones, with a ratio of 93 to 78, while 53 remained unchanged.
In contrast, the Philippine peso remained stable at 56.96 against the US dollar. It began the day at 56.98, following the previous day’s opening rate of 56.95. Throughout the day, the currency pair traded between 56.85 and 56.98, with an average rate of 56.90 against the US dollar.
Trading volume continued to rise, reaching USD 1.65 billion on Friday, compared to the previous day’s volume of USD 1.08 billion.
(ai/mnm)
