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The PH stocks index continues to fall; the peso maintains a sideways closing.

MANILA – Risk-off attitudes led to a negative close for the Philippines’ main stock index, but the peso completed the day flat versus the US dollar.

The Philippine Stock Exchange index (PSEi) fell 1.65% to 6,577.45 points, or 110.4 points.

The Dow Jones Industrial Average fell 1.14 percent, or 40.81 points, to 3,550.40.

Holding Firms was down 2.36 percent, Financials was down 1.74 percent, Property was down 1.28 percent, Industrial was down 1.17 percent, and Services was down 0.48 percent.

Only the Mining and Oil sector gained ground during the day, rising 0.18 percent.

A total of 1.54 billion shares worth PHP20.2 billion were traded.

At 120 to 63, decliners outnumbered advancers, with 54 shares remaining unchanged.

“Philippine shares continued to fall as investors returned to the United States after being battered last week,” Luis Limlingan, head of sales at Regina Capital Development Corporation (RCDC), said, noting the improvement on Wall Street on Monday.

The outcomes of new home sales in the United States, as well as Federal Reserve Chairman Jerome Powell’s speech at the National Center for American Indian Enterprise Development conference in Las Vegas, Nevada on May 24, he said, will influence sentiment in the local bourse on Wednesday.

The peso, on the other hand, maintained its position versus the US dollar, finishing the day at 52.32, up from 52.27 on Monday.

It started the day lower at 52.32, down from 52.22 in the previous session.

It fluctuated between 52.39 and 52.23, resulting in a 52.329 average.

Volume fell to USD1.02 billion from roughly USD1.2 billion the day before.

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