NextGen Day

MANILA – On Friday, concerns about the Ukraine-Russia war weighed on both the local stock market and the currency.

The Philippine Stock Exchange index (PSEi) fell 46.08 points, or 0.62 percent, to 7,342.01 points.

The Dow Jones Industrial Average fell 0.58 percent, or 22.9 points, to 3,895.52 points.

Holding Firms, 1.25 percent; Industrial, 1.03 percent; Services, 0.50 percent; and Financials, 0.18 percent, were among the sectors indices that concluded the week in the negative.

Mining and oil, on the other hand, increased by 0.40 percent, while property increased by 0.11 percent.

A total of 1.33 billion shares worth PHP5.22 billion were traded.

At 102 to 89, decliners outnumbered advancers, with 44 shares remaining unchanged.

“Despite falling volatility in the energy and bond markets, Philippine stocks ended the day in the red. “Investors are keeping a close eye on the conflict in Ukraine while also fretting about the Federal Reserve’s plan to raise rates in March,” said Luis Limlingan, Regina Capital Development Corporation’s head of sales.

Last February’s better-than-expected domestic inflation rate offset the impact of global developments, he said.

The Philippine Statistics Authority said on Friday that the rate of price rises in the second month of this year remained unchanged at 3%.

“The inflation report was able to calm some of the selling (on the local bourse),” Limlingan remarked.

The peso fell against the USD this week, ending the week at 51.74, down from 51.5 on Thursday.

It started the day at 51.65 and fluctuated between 51.75 and 51.6 during the day. For the day, the average level was 51.696.

The volume was USD793.22 million, up from USD789.38 million.

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