Peso stays firm, PSEi slips on external concerns

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A money changer counts Philippine pesos in Manila in file photo. KJ ROSALES, PHIL. STAR

MANILA – The Philippine peso on Wednesday finished on a positive note against the US dollar while concerns on North Korea-related issues dampened risk sentiment and ended the four-day rally of the local bourse.

The peso finished the day at 51.09 from 51.14 in the previous day.

It opened the trade at 51.14, little moved compared to Tuesday’s 51.13.

It traded between 51.19 and 51.08, resulting in an average of 51.13.

Volume for the day reached USD468.8 million, down from the USD511 million a day ago.

On the other hand, the Philippine Stock Exchange index (PSEi) went back to the 7,900-level after it shed 0.81 percent, or 65.38 pints, to 7,983.97 points.

The other indices tracked the main index, with the All Shares down by 0.58 percent, or 27.72 points, to 4,739.21 points.

Mining and Oil is the largest loser among the sectors after it fell 1.14 percent followed by Financials, 0.96 percent; Holding Firms, 0.89 percent; Property, 0.54 percent; Services, 0.51 percent; and Industrial, 0.21 percent.

A total of 2.71 billion shares amounting to PHP6.72 billion changed hands.

Losers led gainers at 111 to 71 while 66 shares were unchanged.