NextGen Day

The peso remained flat, while the local stock exchange fell in line with most Southeast Asian markets, which were hit by the new coronavirus disease 2019 (Covid-19) variant.

The Philippine Stock Exchange index (PSEi) fell 79.47 points to 7,289.80, or 1.08 percent.

All stocks fell by 33.12 points, or 0.85 percent, to close at 3,880.15.

“As Covid-19 concerns resurfaced on Friday, the local bourse joined its regional peers in the red zone. This comes amid growing concerns in South Africa about a new variant, B.1.1.529, that has a high number of mutations, according to PhilStocks financial senior supervisor for research Japhet Tantiangco.

The stock exchanges of neighboring Southeast Asian countries, such as Singapore and Thailand, suffered greater losses than the Philippine stock exchange.

Only Shanghai, Malaysia, and Shenzhen’s stock markets saw losses of less than 1%.

At home, stocks in all sectors fell in today’s trading, with the Property index losing the most ground, dropping 58.57 points to 3,329.11.

Mining and Oil fell 44.95 points to 9,542.37, followed by Industrial, which fell 44.79 points to 10,660.11, Holding Firms, which fell 37.84 points to 7,047.29, Financials, which fell 24.88 points to 1,583.92, and Services, which fell 21.91 points to 1,987.87.

The day’s total trades totaled 1.04 billion shares worth PHP9.97 billion.

At 135 to 66, losers outnumbered gainers, while 43 remained unchanged.

In the meantime, the peso ended the day flat at 50.43 to the dollar, down from 50.39 the day before.

It started the day at 50.40, up from 50.35 to a dollar the day before.

The currency pair fluctuated between 50.32 and 50.57, resulting in a weighted average of 50.49 for the day.

The volume of trade fell to USD1.15 billion from USD1.21 billion on Thursday.

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