MANILA — The peso appreciated against the dollar, closing at 58.68 from its previous 58.79, with total volume rising to USD1.05 billion.
Meanwhile, the benchmark Philippine Stock Exchange index (PSEi) dropped by 48.57 points to close at 6,410.07 due to investor response to IMF’s revised growth forecast and slower-than-expected Q1 GDP data for 2024.
There was a foreign outflow of P742.96 million as foreigners acted as net sellers during Tuesday’s session and investors remained cautious ahead of a local holiday.
All sectors showed losses; Services experienced the greatest drop at 1.79%, followed by Mining and Property which declined by 1.44% and 1.02% respectively.
In total, losers surpassed gainers with a count of 99 to81 across all sectors on Tuesday’s trading day in the Philippines financial market.
(el Amigo/MNM)
