Stocks, peso decline

August 7, 2018

Stocks and the peso declined on Tuesday following the release of higher-than-expected inflation figures for July.

The peso closed at P53 against the US dollar from Monday's P52.85. Volume reached $681.5 million from the previous day's $892.9 million.

The Philippine Stock Exchange index lost 91.46 points to end at 7,725.85. In the broader market, there were 103 decliners, 99 gainers and 38 shares unchanged.

Volume reached 1.79 billion worth P5.22 billion from Monday's 2.07 billion valued at P5.6 billion. Foreigners were net sellers, with P112.43 million.

Most active shares were led by Ayala Land, up 0.92 percent to P52; BDO, down 4.07 percent to P129.50 and SM Prime, up 0.53 percent to P37.90. DMS