PSE Index ends lower as year’s first IPO launched

August 20, 2019

The main Philippine share index closed lower in Tuesday.

The peso closed at P52.29 against the US dollar from P52.31 on Monday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $1.129 billion from the previous session's $1.069 billion. 

The Philippine Stock Exchange ( PSE)  index finished at 7,886.91 points, down 51.44 points. In the broader market, there were 117 losers, 77 gainers and 59 unchanged. 

Volume reached 643.94 million shares worth P5.42 billion from Monday's 1.02 billion shares valued at P7.02 billion.

Most active shares were led by Kepwealth Property, up P4.27 to P12.22; SM Prime, up 95 centavos to P35.70 and Ayala Land, up 10 centavos to P49.50. 

Kepwealth is the first initial public offering for the Philippine Stock Exchange this year. DMS