Stocks lower, peso declines a day after 50 basis points rate hike

August 10, 2018

The main share index closed slightly lower on Friday, a day after monetary authorities raised policy rates by .50 percentage points.

The peso closed at P53.135 against the US dollar from P53.09. Volume at the foreign exchange rate reached $664.3 million from $682.1 million.

The Philippine Stock Exchange index finished at 7,804.98 points, down 15.73 points. In the broader market, there were 96 gainers, 86 decliners and 51 shares unchanged.

Volume reached 1.5 billion shares worth P8.33 billion from Thursday's 1.12 billion shares valued at P6.33 billion.

Most traded shares were led by Ayala Corp., down 2.48 percent to P985; San Miguel Corp., up 3.4 percent to P143 and Security Bank, down 1.26 percent to P200. DMS