NextGen Day

As investors wait for the release of American inflation statistics on Tuesday, both the local stock exchange and the peso saw losses.

The Philippine Stock Exchange index (PSEi) dropped 8.88 points, or 0.14 percent, to 6,479.63. The final decline for all shares was 6.88 points, or 0.20 percent, to 3,479.86.

Four of the six counters fell, with the property sector leading the way, followed by services, industry, and holding companies.

The trading day’s winners were the financials, oil, and mining sectors.

Gainers were outnumbered by decliners 106 to 61.

According to Luis Limlingan, the head of sales at Regina Capital Development Corp., investors will also be keeping an eye on reports on retail sales and the minutes from the Federal Open Market Committee in addition to the US inflation report.

Investors in the local market are also anticipating the publication of remittance data on Wednesday.

Peso lost 0.53 from its previous trading day high of 54.40 against the dollar last week to conclude the day at 54.93.

It started the day weaker at 54.60 than it did at the start of the previous trade.

The price of the currency pair fluctuated between 54.59 and 54.96, with 54.73 serving as the average.

From USD1.24 billion, the overall volume of trade decreased to USD1.14 billion.

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