Wait-and-see market ends flat
The peso gained against the US dollar and finished the day’s trade at P58.275 on Tuesday from P58.58 the previous session
Daily TribuneThe peso gained against the US dollar and finished the day’s trade at P58.275 on Tuesday from P58.58 the previous session
Investors booked some gains on Tuesday while waiting for the country's third-quarter gross domestic product growth figures, which prompted shares at the local bourse to decline by 6.48 points to 6,289.10, 0.10 percent down from the other day's close.
Luis Limlingan, Head of Sales at the Regina Capital, said investors "looked ahead to a packed week with congressional midterm elections and key inflation data on the deck over the next few days and shrugged off a supply warning from Apple."
The peso gained against the US dollar and finished the day's trade at P58.275 on Tuesday from P58.58 the previous session.
Its improvement showed early on after opening the day at P58.38 from the previous session's P58.5, data from the Bankers Association of the Philippines show.
The local currency traded between P58.1 and P58.45, resulting in an average of P58.292.
Volume reached $549.9 million, up from a day ago's $574.2 million.
Jobs figure improves
Meanwhile, Philstocks Financial Inc. assistant manager for research and online engagement Claire Alviar pointed out that the market visited the green territory in the early part of trading as the unemployment rate in the Philippines improved in September.
"However, bears took the momentum, dragging the bourse in the red after the two consecutive gains of the main index," Alviar said.
The net market value turnover was recorded at P4.51 billion on Thursday, while foreigners were net buying — registering an inflow of P375.95 billion.
Of all the sectors, properties and banks were the leading gainers, with registered increases at 1.37 percent and 0.31 percent, respectively. Meanwhile, miners booked the biggest loss of 2.30 percent.
