Peso dips to P50.50 against US dollar, stocks down

June 28, 2017

The peso hit an intraday low of P50.505 but closed at P50.50 against the US dollar in heavy trading on Wednesday. It closed at P50.29 on Tuesday. Volume at the Philippine Dealing System reached $1.27 billion from Tuesday's $452.65 million. The Philippine Stock Exchange index finished 19.19 lower to 7,857.18 points. In the broader market, there were 109 decliners, 88 gainers and 50 unchanged. Volume reached 1.93 billion shares worth P6.64 billion. Foreigners were net sellers at P198 million with foreign selling of P3.706 billion and buying of P3.508 billion. Gainers were led by Omico Corp, up 37.29 percent to P0.81. Most active shares were led by Ayala Land, down 0.37 percent to P39.90 and Ayala Corp., down 0.12 percent to P841.50. DMS