MANILA: The local index fell for the third consecutive day amid concerns in the US economy, while the peso barely moved against the dollar. The Philippine Stock Exchange index (PSEi) on Thursday declined by 0.96 percent to 6,638.54, with All Shares also going down by 0.67 percent to 3,734.94 points. According to Philippines News Agency, the local market continued its decline as investors remain concerned regarding president-elect Donald Trump's tariff threats. Adding to the worries is the uncertainty on the Federal Reserve's policy easing pace amid the uncertainties on the US economy, Philstock Financials, Inc. research manager Japhet Tantiangco said. Likewise, all counters ended in the negative territory, with the biggest shedding coming from the Industrial sector, dropping by 2.10 percent. This was followed by Property, down by 1.48 percent; Financials, -0.71 percent; Holding Firms, -0.68 percent; Services, -0.03 percent, and Mining and Oil, -0.02 percent. The exit of foreign funds also weighed on the lo cal bourse. Net foreign selling for the day amounted to PHP1.17 billion. Trading was tepid with net value turnover at PHP4.48 billion, Tantiangco added. Meanwhile, the Philippine peso closed flat at 58.67 against a US dollar, barely moving from last day's closing of 58.71. At 58.70, the local currency opened stronger than Wednesday's kick-off of 58.92. The currency pair traded between 58.61 and 58.78, bringing the average level for the day at 58.69 to the greenback. Trade volume improved to USD1.46 billion from USD1.38 billion the previous day.