MANILA — The Philippine Stock Exchange index (PSEi) extended its downward streak on Thursday (14 Nov 2024), falling below the 6,600 level, while the peso ended almost unchanged against the US dollar.
The PSEi dropped 2.34% to 6,557.09, marking its seventh consecutive day of losses. The broader All Shares index also lost 2.95%, closing at 3,680.62. Reginal Capital Development Corp. managing director Luis Limlingan noted that the local market was impacted by continued fund outflows and a lackluster performance in US equities.
“Philippine shares broke through the 6,600 mark, as more funds exited this week, mirroring the flat finish on Wall Street,” said Limlingan.
All sectors ended in the red, with Mining and Oil suffering the largest decline, down 3.69%. Market breadth was heavily negative, with 181 decliners outnumbering just 35 gainers.
Peso vs dollar
Meanwhile, the peso closed at 58.777 to the dollar, virtually unchanged from its previous close of 58.735.
It traded between 58.75 and 58.85 during the day, with a weighted average of 58.814.
The total volume for the day reached USD 1.53 billion, up slightly from the previous day’s USD 1.43 billion.
ia/mnm
