Manila: Philippine shares fell below the 6,400 level on Monday, while the peso closed weaker against the dollar.
According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) slipped by 2.36 percent to 6,343.10, while All Shares also declined by 1.33 percent to 3,704.91.
"Philippines share slid below the 6,400 level as the sentiment was pulled down from the Friday night performance of the US, which saw its economy's latest employment figures crush estimates. For the rest of the week, the key economic data to watch includes the December Consumer Price Index (CPI), set for release on Wednesday morning," Reginal Capital Development Corporation managing director Luis Limlingan said.
"On the local front, the only major data release this week is the November cash remittances report, which is due on January 15," he added. All Sectors closed in the red, with Holding Firms recording the biggest decline at 3.47 percent. Decliners led advancers at 123 to 68.
Meanwhile, the peso depreciated, closing at 58.7 to a dollar from 58.36 last Friday. It opened at 58.52 and traded between 58.5 to 58.7, bringing the weighted average of the day to 58.66. Volume of trade fell to USD1.35 billion from USD1.81 billion the previous day.
