Stocks extend decline, peso closes lower

September 20, 2018

Stocks continued to lose ground while the peso ended lower on Thursday.

The peso closed at P54.075 against the US dollar from Wednesday's P53.99. Volume at the Bankers Association of the Philippines foreign exchange portal reached $606.1 million from $657.7 million on the previous day.

The Philippine Stock Exchange index closed a 7,134.73 points, down 86.50. In the broader market, there were 113 decliners, 82 gainers and 33 shares unchanged.

Volume reached 792.15 million shares worth P4.59 billion from Wednesday's 848.73 million shares valued at P5.49 billion. Foreigners continued to be net sellers by unloading P2.68 billion while buying P2.29 billion worth of stocks.

Most traded shares were led by Ayala Land, down 0.50 percent to P39.80; SM Investment Corp,. down 3.15 percent to P862; MRC Allied, up 7.46 percent to 72 centavos. DMS