Stocks sink further as investors stay on sidelines
Stock prices closed lower for a third straight session as investors stayed on the sidelines in search for fresh leads.
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Stock prices closed lower for a third straight session as investors stayed on the sidelines in search for fresh leads.
The currency strengthened by 18 centavos to P55.57:$1. It opened trading at P55.78:$1 and ranged from P55.57 to P55.785, with volume dropping to P841 million from the previous day's P1.592 billion.
THE peso fell further on Tuesday, but the stock market rallied to return to the 6,500 level.
THE peso regained some ground, and the stock market also snapped a three-day slide ahead of widely awaited monetary policy meetings.
The currency strengthened by 2 centavos to P55.32 against the dollar while the benchmark Philippine Stock Exchange index (PSEi) advanced by 24.58 points, or 0.39 percent, to 6,308.95.