Stocks lower, but peso gains

September 19, 2018

Stocks closed lower, with the Philippine Stock Exchange index down 65,11 points to 7, 7221.23 but the peso gained on Wednesday.

The peso closed at P53.99 against the US dollar from P54.07 on Tuesday.  Volume at the Bankers Association of the Philippines foreign exchange portal reached $657.7 million from the previous day's $766.45 million.

In the broader market, there were 153 decliners, 36 gainers and 41 shares unchanged.

Volume reached 848.7 million worth P5.49 billion from Tuesday's 1.23 billion shares valued at P6.59 billion. Foreign selling, which has reached 15 straight sessions, amounted to P 3.17 billion compared to buying of P2.53 billion.

Most active shares were BPI, down 3.17 percent to P79.50; Metrobank, down 1.67 percent to P64.90; Ayala Corp., down 2.1 percent to P886 and SM Prime, up 1.23 percent to P36.95. DMS