THE peso fell and the stock market also dropped below 6,500 as minutes from last month s Federal Reserve (Fed) meeting showed that the US central bank expects to resume tightening policy.
THE peso and stock market marginally gained on Thursday, the former strengthening by 2 centavos to P55.3 against the dollar and the benchmark Philippine Stock Exchange index (PSEi) adding 8.64 points, or 0.13 percent, to end the day at 6,511.49.
THE peso rebounded on Thursday, but the stock market fell for a fourth straight day, dipping below 6,400 in morning trade before regaining some ground.
The local stock market continued to post small gains one the back of stronger US equities overnight.
The main index added 32.92 points or 0.50 percent to close at 6,655.37 as the Mining and Oil sector led the advance while the Property counter lagged behind. Volume declined to 828 million shares
The local stock market ended slightly lower after investors sold down shares just before closing.
The main index shed 6.18 points or 0.09 percent to close at 6,815.91 witj sectoral indices evenly split. Volume jumped to 1.2 billion shares worth P12.23 billion as losers beat gainers 102 to 80 with