MANILA – The Philippine Stock Exchange index (PSEi) extended its downward trend on Thursday (29 Aug 2024), slipping below the 6,900 mark. The peso, in contrast, ended the day relatively flat.
The PSEi dropped by 0.95 percent to close at 6,891.55, while the All Shares index fell 0.70 percent to 3,733.29 points.
Among the indices, only Mining and Oil and Property showed gains, rising by 0.34 and 0.13 percent, respectively. The biggest losses were recorded in Holding Firms, down 1.98 percent; Financials, down 1.38 percent; Services, down 0.51 percent; and Industrial, down 0.11 percent.
Philstock Financials, Inc. research associate Claire Alviar attributed the decline to profit-taking and negative cues from Wall Street, which also impacted other Asian markets.
Losers outnumbered advancers 117 to 79, with 51 stocks remaining unchanged.
In currency markets, the peso ended almost unchanged at 56.28 to the US dollar, slightly down from 56.25 on Wednesday. It traded within a narrow range of 56.22 to 56.34, with an average level of 56.29. Trade volume reached USD 1.57 billion.
ia/mnm
