NextGen Day

The major index of the local stock exchange changed direction on Friday and fell into the red, while the peso concluded the week flat versus the US dollar.

To reach 6,499.68 points, the Philippine Stock Exchange index (PSEi) lost 2.18 percent or 145.07 points.

All Shares fell 45.36 points, or 1.28 percent, to 3,493.37 points after that.

The majority of the sector’s indices also decreased throughout the day, including Property (3.43%), Holding Companies (3.13%), Industrial (1.62%), and Financials (0.07%).

Services, on the other hand, increased by 0.06 percent, while Mining and Oil increased by 0.02 percent.

627.11 million shares, or PHP6.18 billion, were traded.

At 107 to 73, decliners outnumbered gainers while 47 shares remained unchanged.

The chief of sales for Regina Capital Development Corporation (RCDC), Luis Limlingan, stated that “the 6,500 support was easily exceeded as investors close the quarter.”

The three major US exchanges increased, according to Limlingan, as “investors bet the worth of the regional bank crisis is finished.”

The price of oil increased on the global market, with West Texas Intermediate (WTI) up 1.9 percent and Brent crude up 1.3 percent.

The peso fluctuated throughout the week versus the US dollar, ending the week at 54.36 from 54.415 on Thursday.

It traded between 54.385 and 54.28 and started the day at 54.35. For the day, the average level was 54.318.

Volume decreased from USD1 billion the day before to USD942.6 million.

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