NextGen Day

MANILA, Philippines — The publication of economic data this week, which is likely to have an impact on the Federal Reserve’s rate decisions, impacted the local stock market on Tuesday, although the peso held its own versus the dollar.

The Philippine Stock Exchange index (PSEi) fell 19.27 points to 7,115.09 points or 0.27 percent.

The Dow Jones Industrial Average fell 0.30 percent, or 11.52 points, to 3,770.53.

The main index was followed by the majority of sectoral gauges, which included Mining and Oil (3.99%), Holding Firms (0.71%), Services (0.49%), and Property (0.22%).

Industrials, on the other hand, increased by 0.46 percent, while Financials increased by 0.26 percent.

The volume remained low, with 788.02 million shares worth PHP4.9 billion traded.

At 92 to 82, decliners outnumbered advancers, with 57 shares remaining unchanged.

According to Luis Limlingan, head of sales at Regina Capital Development Corporation (RCDC), reports on consumer confidence and housing prices in the United States would be released later in the day, while jobs reports will be provided on Friday.

Investors’ sentiments were also affected by events in the Ukraine-Russia conflict, as well as a drop in oil prices on the worldwide market, he said.

US West Texas Intermediate (WTI) crude futures fell by nearly 7% to USD105.96 per barrel, while Brent crude futures fell by nearly 7% to USD112.48 per barrel.

Meanwhile, the local currency concluded the day at 52.075 per dollar, unchanged from Monday’s close of 52.13.

It started the day at 52.07, an improvement over the previous day’s start of 52.18.

It traded in a range of 52.13 to 52.99, resulting in a 52.069 average.

The volume reached USD1.047 billion, up from USD778.55 million the day before.

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