Stock index retreats after hitting 8,000 points, peso down

June 15, 2017

Stocks fell back Thursday after the key index went to the 8,000 point mark following the US Federal Reserve’s decision to raise its rates for the second time this year. The Philippine Stock Exchange index closed at 7,964.69 points, down 1.52 points. At the broader market, there were 96 decliners, 90 gainers and 58 unchanged. Volume reached 1.56 billion shares valued at P8.05 billion. Foreigners continued buying, purchasing P4.02 billion worth of stocks while selling P3.50 billion. Most active shares were led by PLDT, up 0.79 percent, to P1,920, Meralco up 1.55 percent to P261.10 and Philweb Corp, up 8.76 percent to P11.18. The peso weakened to P49.63 from P49.505 against the US dollar. Trading at the Philippine Dealing System went down to $285.7 million from $427.6 million. DMS .