MANILA – Philippine shares ended lower on Monday as investors remained cautious, and the peso slipped against the dollar.
MANILA — The Philippine Stock Exchange Index (PSEi) fell 1.12% to 5,993.48, with the All Shares index also declining by 0.50% to 3,611.16.
“Philippine stocks opened the week on a negative note, closing below the 6,000 mark despite better-than-expected cash remittances of USD 3.38 billion,” said Luis Limlingan, head of sales at Regina Capital Development Corporation.
Most sectors closed in the red, with Property suffering the largest decline at 3.06%. However, Mining and Oil and Services saw gains of 2.70% and 0.51%, respectively. Decliners outnumbered advancers, 114 to 74, with 61 stocks unchanged.
Meanwhile, the peso weakened to 58.03 to the dollar, down from 57.83 on Friday. The peso traded between 57.78 and 58.05 during the day, with an average exchange rate of 57.92. Trading volume dropped to USD 1.16 billion from USD 1.66 billion.
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