The Philippines’ main equities index finished the week on the red on Ukraine-Russia concerns but the peso managed to finish sideways against the greenback.
The Philippine Stock Exchange index (PSEi) shed 0.27 percent, or 20.14 points, to 7,418.79 points.
All Shares also declined by 0.27 percent, or 10.62 points, to 3,923.69 points.
A majority of the sectoral indices also finished the week on the red, led by Industrial at 0.85 percent.
It was trailed by Holding Firms, 0.57 percent; Services, 0.50 percent; and Financials, 0.30 percent.
On the other hand, Property rose by 1.16 percent and Mining and Oil by 1.14 percent.
Volume reached 1.18 billion shares amounting to PHP7.42 billion.
Advancers surpassed decliners at 94 to 86 while 53 shares were unchanged.
“Philippine shares got caught in the crossfire, sliding this session as tensions between Washington and Russia over Ukraine flared,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
He said the geopolitical concerns in Europe also hurt US stocks after it posted its worst day so far “as investors switched to safe-haven assets amid the ongoing conflict”.
On the other hand, the local currency finished the week at PHP51.35 against the US dollar, a little change from its PHP51.33 close on Thursday.
It opened the day at PHP51.34 and traded between PHP51.36 and PHP51.28. The average level for the day stood at 51.31.
Volume declined to USD546.2 million compared to the USD824.4 million a day ago.
Source: Philippines News Agency
