MANILA – The local stock market bellwether extended its decline on Thursday, falling below the 6,900 level, while the peso barely moved.
The Philippine Stock Exchange index (PSEi) fell 0.95 percent to 6,891.55, with All Shares also declining by 0.70 percent to 3,733.29 points.
Only Mining and Oil and Property counters were the indices’ advancers, which shares increased by 0.34 and 0.13 percent, respectively.
The biggest losses came from Holding Firms, which dropped by 1.98 percent; followed by Financials, down by 1.38 percent; Services, down by 0.51 percent; and Industrial, down by 0.11 percent.
Philstock Financials, Inc. research associate Claire Alviar said the local bourse declined on profit-taking. It also took negative cues from Wall Street, which also affected other Asian indices.
The number of losers exceeded the advancers at 117 to 79, with 51 counters remaining unchanged.
Meanwhile, the peso ended almost unchanged at 56.28 to the US dollar from 56.25 on Wednesday.
It opened the day at 56.25 before trading between 56.22 and 56.34 to a US dollar.
The average level for the day stood at 56.29 the greenback.
Trade volume reached USD1.57 billion. (PNA)