The Philippine peso fell 0.17 to 58.68 to the U.S. dollar, down from last week’s closing of 58.51.
The local currency opened the market strong at 58.47 before trading between a low of 58.41 and retreated to 58.70 against the U.S. dollar
The total trade volume stood at $1.32 billion, lower than the $1.55 billion in last week’s trading.
Meanwhile, the Philippine Stock Exchange index (IPSEi) stayed in the green on Monday’s trading, thanks to investors looking for cheap shares and the manufacturing index of China reported by S&P Global.
The PSEi ended the day gaining by 0.53 percent to 6,470.74, with an uptick in broader All Shares by 0.21 percent to 3,471.05 level.
“Investors continued to hunt for bargains following last week’s market decline near the 6,400-support level,” Philstock Financials, Inc. research associate Claire Alviar said.
“Overseas, China’s strong May factory activity, which expanded at 51.7, its fastest pace in nearly two years and beat estimates, lifted the sentiment in the region, including the Philippines,” Alviar added.
Sectors were mixed, with winners led by financials followed by property, mining, and oil.
Losers were Services, Holding Firms, and Industrial.
Alviar said net market value turnover amounted to P5.18 billion.
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