The Philippine peso and stocks ended the week in the red as investors remained cautious ahead of President Ferdinand Marcos’ State of the Nation Address (SONA).
The benchmark Philippine Stock Exchange index lost 30.96 points, or 0.48 percent, to close at 6,413.18, while the broader all-shares index declined 11.52 points, or 0.30 percent, to settle at 3,796.87.
The peso also tumbled to 57.11 against the US dollar Friday from 56.65 Thursday.
“Profit taking continued this Friday causing the local market to extend its decline,” Philstocks Financial Inc. research head Japhet Tantiangco said, referring to the stock market.
“Investors also took a cautious stance while waiting for fresh leads, primarily the President’s upcoming SONA as well as second quarter results,” he said.
Trading was lethargic, as value turnover reached P5.4 billion, lower than the year-to-date average of P5.8 billion, Decliners edged out advancers, 112 to 93.
Foreign investors were net buyers, with inflows amounting to P113.7 million.
Among the indices, only the holding firms ended in the green, rising 0.07 percent. Property declined 1.21 percent and mining and oil, 1.12 percent.
Puregold Price Club Inc. rose 2.24 percent to P41, while Ayala Land Inc. declined 2.82 percent to P25.85.
