The Philippine Stock Exchange index (PSEi) closed lower on Wednesday, Sept. 2.
Renewed conflict in the Middle East pushed oil prices up and Peso, dollar, PSE, signaling a peso record low.
The local bourse’s main index shed 0.67 percent to close at 6,053.23 points, while the broader All Shares index fell by 0.31 percent to 3,352.61 points.
Only the industrial sector gained during the day, rising by 0.38 percent.
Meanwhile, services led the decliners with a 1.46 percent drop. It was followed by financials, down 0.41 percent; property, 0.34 percent; holding firms, 0.29 percent; and mining and oil, 0.16 percent.
Trading volume was thin at 610.46 million shares, amounting to P5.69 billion.
Decliners, Peso, dollar, PSE, outnumbered advancers 101 to 79, while 65 shares remained unchanged.
The local market pulled back as yields and oil prices rose amid renewed US-Iran exchanges.
Peso, dollar, PSE, fell to a new record low, contributing to today’s market decline, Philstocks Research said.
Peso, dollar, PSE, weakened further against the local currency.
It closed at 62.56 from Tuesday’s finish of 62.40.
It opened the trading session at 62.40 and traded between 62.40 and 62.69. The day’s weighted average stood at 62.61.
Volume rose to USD1.83 billion from the USD1.31 billion recorded the previous day.PNA
