Stock index extends decline; peso rallies from P52.67:$1

May 29, 2018

Stocks continued its slide on Tuesday, as the Philippine Stock Exchange index finished 40.54 points lower to 7,602.

In the broader market, there were 101 decliners, 89 gainers and 56 shares unchanged.

Volume rose to 1.15 billion shares worth P6.1 billion from Monday's 501.90 million shares worth P5.39 billion.

Foreigners were net sellers, unloading P2.34 billion worth of shares while buying P2.18 billion worth of stocks.

Most traded shares were led by Metrobank, up 0.80 percent to P82.30; Now Corp., 19.59 percent down to P9.36 and Ayala Land, down 0.49 percent to P41.

The peso dipped to the day's low of P52.67 against the US dollar before closing at P52.64. Volume at the Bankers Association of the Philippines rose to $712.05 million from Monday's $637.40 million. DMS