The Philippine stock market ended Monday’s session nearly flat, even as the peso gained ground. The Philippine Stock Exchange index (PSEi) edged down slightly by 0.03% to 6,095.97, while the All Shares index dipped 0.14% to 3,655.
Luis Limlingan, head of sales at Regina Capital Development Corp., noted that local shares started off subdued. He explained that the impact of the Bangko Sentral ng Pilipinas’ decision to cut the reserve requirement ratio was counterbalanced by last Friday’s sell-off in the United States.
Meanwhile, the peso strengthened against the US dollar, closing at 57.80—an improvement over Friday’s close of 57.94. The currency opened at 57.9 and traded within a range of 57.77 to 57.95, with a weighted average of 57.86 for the day.
Trading volume also declined, falling to $1.17 billion from the previous $1.33 billion.