Stocks Fall as Peso Weakens Further
Investors remain cautious about buying Philippine shares due to the peso's struggle against the dollar, resulting in a decline in the local stock market at the start of a shortened trading week.
The Philippine Stock Exchange index (PSEi) fell by 0.91 percent, or 54.26 points, to 5,933.76, while the broader All Shares index declined by 0.73 percent, or 26.38 points, to 3,581.73.
“The Philippine market declined by nearly one percent, as selling pressures persisted throughout the trading session,”
said Regina Capital Development Corp. head of sales Luis Limlingan, citing the peso's depreciation against the dollar as a factor.
Author's summary: Stocks decline due to peso's weakness.
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