Wait-and-see stance ahead of the policy meeting of the Bangko Sentral ng Pilipinas (BSP) later this week partly resulted to the decline of both the main stocks index and the peso on Monday.
The Philippine Stock Exchange index (PSEi) shed 0.55 percent, or 40.47 points, to 7,342.37 points.
All Shares slipped by 0.33 percent, or 13.15 points, to 3,951.53 points.
Most of the sectoral gauges also finished the day’s trade on the red, and these are the Mining and Oil, 3.24 percent; Property, 1.10 percent; Financials, 0.95 percent; Industrial, 0.59 percent; and Services, 0.57 percent.
Only the Holding Firms ended the day on positive territory with 0.01 percent increase.
Volume totaled to 1.3 billion shares amounting to PHP7.96 billion.
Decliners led losers at 124 to 71 while 42 shares were unchanged.
“Philippine shares started the week on some profit taking after the release of some disappointing regional economic data, while others remain on the sidelines for the BSP meeting this week,” Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales, said.
One of the negative economic news that affected sentiments during the day is the preliminary report on University of Michigan’s index of consumer sentiment for November, which slipped by 4.9 percentage points to 55.8 percent.
Relatively, the peso finished the day’s trade at 50.19, weaker than its 49.85 close Friday last week.
It opened the day at 49.81, better than its 50.08 start in the previous session.
It traded between 50.19 and 49.77, resulting to an average of 49.931.
Volume totaled to USD1.16 billion, higher than the previous session’s USD1.07 billion. (PNA)
