NextGen Day

📉🇨🇳 The Philippine shares and peso experienced declines on Tuesday’s trading due to negative sentiments surrounding China’s missed second-quarter economic growth, which had a ripple effect on Asian markets.

The Philippine Stock Exchange index (PSEi) ended the day down by 21.96 points, closing at 6,528.80, while the All Shares also dipped by 10.89 points, reaching 3,482.75 level.

The negative sentiments in China impacted regional markets, including the Philippines, as China reported a second-quarter gross domestic product (GDP) expansion of 0.8 percent, falling short of economists’ forecast growth of over 7 percent.

Sector performances were mixed, with Properties leading the gainers, increasing by 0.46 percent, while Financials suffered the biggest loss of 1.37 percent.

The PSE saw a total of 45,682 transactions, trading 487 million shares, with a trade value of PHP3.2 billion on Tuesday. Decliners outnumbered advancers at 106 to 71, with shares of 52 listed firms remaining unchanged.

Puregold Price Club, Inc. gained the most by 1.53 percent among index members, while Monde Nissin Corp. suffered the steepest decline at 5.11 percent.

Meanwhile, the Philippine peso ended the day trading sideways at 54.41 to a US dollar, compared to the previous day’s finish of 54.38. It traded between 54.36 and 54.47, with a weighted average of 54.41 for the day. The trade volume further declined to USD753.4 million compared to Monday’s USD977.4 million.

The negative impact on the market was attributed to China’s economic growth figures, which affected investor sentiment in the region and had a bearish effect on Philippine shares and the peso.

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