Stock index dips below 8,000-point level

January 16, 2019

The Philippine Stock Exchange index fell below a key level while the peso lost 10 centavos against the US dollar on Wednesday.

The index settled at 7,8 64.70, down 148.72 points. In the broader market, there were 127 decliners, 64 gainers and 50 shares unchanged.

Volume reached 1.13 billion shares worth P20.15 billion from Tuesday’s 3.1 billion shares valued at P6.52 billion.

Most active shares were led by Ayala Corp., down 5.31 percent to P919; SM Prime, down 6.92 percent to P37 and Ayala Land, down 4.22 percent to P43.10.

The peso closed at P52.13, down from P52.03 on Tuesday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $679.2 million from $1.061 billion on Tuesday. DMS