NextGen Day

MANILA – The Philippine Stock Exchange index (PSEi) has fallen for four days in a row, ending the week 2.34 percent lower.

The PSEi fell 153.13 points to 6,379.17 on Friday, with all shares falling 1.7 percent (59.81 points) to 3,457.40.

“Philippine stocks fell further as investors anticipated the Fed’s next move in light of the fresh inflation statistics. PPI (producer price index) data, which monitors wholesale prices, increased by 11% year over year, according to Regina Capital Development Corporation (RCDC) head of sales Luis Limlingan.

The local stock exchange has dropped 380.73 points in the last four days.

Except for Property, which rose 0.23 percent (6.65 points), all sectors had their shares fall between 1.62 to 4.3 percent.

Holding Firms was the biggest loser on the day, falling 263.18 points to 5,855.81. Mining and Oil was next, down 223.44 points to 10,749.61; Industrial was next, down 146.88 points to 8,932.49; Financials was next, down 37.52 points to 1,537.17; and Services was last, down 31.75 points to 1,836.75.

Gainers outweighed decliners 126 to 68, with 41 companies ending the day unchanged.

Meanwhile, the Philippine peso ended the week flat at 52.45 per dollar, down from 52.50 on Thursday.

The currency pair started the day weak at 52.43 to the dollar, down from 52.28 the day before.

The peso and the dollar traded in a range of 52.39 to 52.48, with 52.43 as the daily average.

The overall amount traded on Friday was USD978.4 million, down from USD1.08 billion on Thursday.

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