Stocks down; peso hits P53.51 vs US dollar before rallying to P53.39

August 14, 2018

Philippine stocks fell on Tuesday, with the main index shedding off more than one percent as it neared the key 7,500 level.

The peso hit a low of P53.51 against the US dollar before rallying to close at P53.39, down two centavos from Monday. Volume reached $693 million from $786.4 million.

The Philippine Stock Exchange index finished at 7,527.78, down 107.49 points. In the broader market, there were 141 decliners, 60 gainers and 41 shares unchanged.

Volume declined to 1.34 billion worth P5.31 billion from Monday's 1.44 billion shares valued at P5.17 billion.

Most active shares included DMCI Holdings, down 3.52 percent to P11.50; Globe Telecom, down 3.13 percent to P1,860 and BPI, down 3.25 percent to P92.40. DMS