Stocks decline, peso cuts loses vs US dollar

December 10, 2018

Stocks fell while the peso rallied to cut losses against the US dollar on Monday.

The Philippine Stock Exchange (PSE) closed 112.85 points lower to 7, 348.21. In the broader market, there were 134 decliners, 59 gainers and 43 shares unchanged.

The peso hit a low of P52.825 before finishing at P52.80 from Friday's P 52.71.  Volume at the foreign exchange portal of the Bankers Association of the Philippines amounted to $603.12 million from the previous $973.95 million.

Volume at the PSE index fetched 2.26 billion shares worth P14.84 billion from Friday's 2.23 billion shares valued at P5.29 billion.

Most traded shares were led by SM Investment Corp., down 4.26 percent to P900; BPI, down 0.80 percent to P93.50 and SM Prime, down 1.53 percent to P35.45. DMS