Local share prices inched down Thursday, as the major sectors ended the day with mixed results.
The Philippine Stock Exchange index closed at 7,438.93, down by 0.19 percent or 13.89 points.
The all shares index finished higher by 0.1 percent or 3.77 points to settle at 3,934.31.
“Philippine shares ended mixed on a volatile trading session as investors digested the latest update from the Fed and developments on the Ukraine-Russia standoff,” said Luis Limlingan, managing director at Regina Capital and Development Corp.
Half of the counters were in green, with the services sector posting the biggest gain with a 0.31 percent increase.
Meanwhile, the property sector took the biggest hit with a 0.62 percent decline.
Total value turnover was at P6.82 billion.
Advancers beat decliners, 107 to 77, while 56 stocks were unchanged.
The peso closed 51.33 to the dollar, up from 51.285 on Wednesday.
The currency opened at 51.27, and hit a high of 51.36 and a low of 51.235. Turnover reached $824.4 million.
According to a Reuters report, the Thai baht and the Philippine peso led gains among rising Asian currencies on Thursday, as the peso climbed ahead of a central bank meet.
The peso rose more than 0.2 percent to mark its best session in more than a week.
“While the current USD/PHP currency pair is manageable with the central bank ‘smoothing’ policy, any abrupt erosion to real policy rate differentials versus the Fed will lead greater depreciation of the peso,” analysts from Mizuho Bank said in a research note, as reported by Reuters.
