Manila: Local shares fell on Monday amid the continued tensions between Israel and Iran, while the peso also weakened.
According to Philippines News Agency, the Philippine Stock Exchange index (PSEi) fell 1.92 percent to 6,218.28, while All Shares also slipped 1.44 percent to 3,706.56. "Philippine shares were sold down on Monday back to 6,200 level tracking a broader market as Middle East tension continues with President Donald Trump further fueling tension as US enters the war," Regina Capital Development Corp. head of sales Luis Limlingan said.
"Philippine economic data to look out for include, Friday's trade data for May and 2Q (second quarter) consumer confidence which may aid in gauging economic momentum, while Thursday's budget balance release may provide insight into the government's fiscal stance."
All Sectors closed in the negative territory, with Mining and Oil recording the biggest decline at 3.48 percent. Decliners led advancers at 142 to 60.
Meanwhile, the peso depreciated, finishing at 57.58 against the dollar from last week's 57.17 closing. It opened at 57.25 and traded between 57.25 to 57.66. The weighted average of the day stood at 57.58. Volume of trade fell to USD1.28 billion from USD1.77 billion.
